It is reported that the recent move of the European Commission once again turned the focus of international trade to China. According to the implementing regulation of EU 2024/785, the European Union will carry out the customs registration of electric vehicles originating in China for 9 months from March 7th.
The European Commission pointed out that there is ample evidence that electric vehicles imported from China have received some financial support, which is equivalent to official subsidies and distorts market competition. This is the first time that the EU has officially stated that its investigation results have been basically established after Ursula von der Leyen announced the initiation of countervailing investigation on electric vehicles in China last year.
According to the relevant provisions of the EU Regulation on Distorted Market of Foreign Subsidies, the countervailing investigation must be completed within 13 months from the date of official launch. Temporary anti-dumping measures will be taken within 9 months after the start of the investigation, and the final trade adjustment measures need to be established within 4 months after these temporary measures take effect or within 13 months from the start of the investigation. This means that the final report of the investigation is expected to be released before November this year, and the temporary tariff measures are expected to be determined in July.
The European Commission decided to start the retrospective customs registration of imported electric vehicles four months in advance, and the consideration behind it was to prevent irreparable damage before the investigation was completed. According to EU data, the number of electric vehicles exported by China to the EU is increasing rapidly, which poses a serious challenge to local European manufacturers.
At present, the European Union Chamber of Commerce in China expressed disappointment with the latest regulations, pointing out that “the surge in the import of electric vehicles in China actually reflects the significant increase in the demand for electric vehicles in Europe. The Chamber of Commerce strongly hopes that the European side can truly protect the legitimate rights and interests of China enterprises and create a fair, just and non-discriminatory business environment for them. “.
Post time: Mar-15-2024