Chinese automakers seek retaliatory tariffs on EU cars, state media reports

Chinese automakers seek retaliatory tariffs on EU cars, state media reports

BEIJING - Chinese automakers have urged Beijing to retaliate against Brussels' decision to place curbs on Chinese electric vehicle exports by raising tariffs on imported European gasoline-powered cars, the state-backed Global Times newspaper said on Wednesday.

EU trade policy is turning increasingly protective owing to concerns China's production-focused, debt-driven development model could see the 27-member bloc flooded with cheap goods, including EVs, as Chinese firms look overseas due to weak domestic demand. The Global Times first reported late last month that a Chinese government-affiliated auto research centre was suggesting China raise its import tariffs on large gasoline-powered cars to 25%, citing an industry expert.Chinese authorities have previously hinted at possible retaliatory measures through state media commentaries and interviews with industry figures.

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