financetom
Business
financetom
/
Business
/
EU 'wants level playing field', but still negotiating with China on car tariffs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
EU 'wants level playing field', but still negotiating with China on car tariffs
Oct 17, 2024 2:43 PM

BERLIN (Reuters) - The European Union wants a level playing field with China on car tariffs and is negotiating with Beijing on mechanisms such as price commitments or investments in Europe as a solution, European Commission chief Ursula von der Leyen said on Monday.

Speaking alongside German Chancellor Olaf Scholz in Berlin, she said negotiations with China would continue even if the EU's tariffs on Chinese electric vehicles entered into force. Scholz expressed hope of reaching an agreement by the end of October.

"What could be the compensation that is offered instead of countervailing duties, for example? And there is the question of price commitments that are on the table, investments in Europe," von der Leyen said. "These are all questions that are on the table, as always in negotiations. Everything has only been negotiated when the last piece has been negotiated."

The two leaders met in Berlin as the EU prepares to impose hefty import tariffs on Chinese-made electric vehicles, measures that Germany and its car industry oppose, fearing retaliatory measures in the vast Chinese market.

They were speaking on the same day as Chinese and European automakers went head-to-head at the Paris car show, where Chinese EV giant BYD warned the EU's planned tariffs would only lead to higher prices and deter buyers.

Earlier this month, EU member states narrowly backed import duties on Chinese-made EVs of up to 45%, meant to counter what the European Commission says are unfair subsidies from Beijing to Chinese manufacturers. Beijing denies unfair competition and has threatened counter-measures.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Chemed Insider Sold Shares Worth $2,781,897, According to a Recent SEC Filing
Chemed Insider Sold Shares Worth $2,781,897, According to a Recent SEC Filing
Aug 9, 2024
02:03 PM EDT, 08/09/2024 (MT Newswires) -- Thomas C Hutton, Director, Vice President, on August 06, 2024, sold 4,827 shares in Chemed ( CHE ) for $2,781,897. Following the Form 4 filing with the SEC, Hutton has control over a total of 32,765 shares of the company, with 32,765 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/19584/000095017024094535/xslF345X03/ownership.xml Price: 580.47, Change: -2.91, Percent...
Sector Update: Consumer
Sector Update: Consumer
Aug 9, 2024
01:50 PM EDT, 08/09/2024 (MT Newswires) -- Consumer stocks were higher Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.6%. In corporate news, Getty Images ( GETY ) shares fell 6.5% after the company's Q2 earnings fell short of market expectations and it cut its...
Federal Appeals Court Rules in Meta's Favor Over Anti-Vaccine Group in Censorship Case
Federal Appeals Court Rules in Meta's Favor Over Anti-Vaccine Group in Censorship Case
Aug 9, 2024
02:01 PM EDT, 08/09/2024 (MT Newswires) -- A federal appeals court on Friday upheld a lower court's ruling that Meta Platforms ( META ) did not violate the First Amendment rights of Children's Health Defense when it removed anti-vaccine Facebook posts. Price: 514.94, Change: +5.31, Percent Change: +1.04 ...
Market Chatter: Rail Strike Possible As of Aug. 22 After Labour Board Rules Services Non-essential
Market Chatter: Rail Strike Possible As of Aug. 22 After Labour Board Rules Services Non-essential
Aug 9, 2024
02:01 PM EDT, 08/09/2024 (MT Newswires) -- The country's labour tribunal says services provided by rail employees do not amount to essential work, opening the gate to a full-fledged strike in less than two weeks, according to report from The Canadian Press, as published on the website of The Globe and Mail. In a pair of rulings Friday, the report...
Copyright 2023-2026 - www.financetom.com All Rights Reserved