Chinese Automakers Call For 25% Tariffs On Imported Euro Cars With Big Engines

Leaders in Europe and China want to strike a tariff deal to de-escalate trade tensions. Chinese car companies and European brands recently met in Beijing to discuss the issue. German carmakers have exported $1.2 billion of applicable cars to China this year. Several Chinese car manufacturers want large combustion-powered vehicles imported from Europe hit with 25% tariffs in response to the European Union’s decision to increase import tariffs on Chinese EVs by up to 38.1%.

According to Bosch chief executive Stefan Hartung, the announcement may trigger talks between China and the EU as the tariffs announced by Brussels allow for review. In May, a Chinese auto research center affiliated with the government suggested raising import tariffs on gas-powered cars from Europe with engines exceeding 2.5 liters from 15% to 25%. Data from the China Passenger Car Association reveals that 196,000 vehicles with engines bigger than 2.

Car Car Latest News, Car Car Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Chinese automakers seek retaliatory tariffs on EU cars, state media reportsChinese automakers seek retaliatory tariffs on EU cars, state media reports
Source: Investingcom - 🏆 450. / 53 Read more »