31.05.2024, 14:17
China's losses from the tightening of trade with Europe were estimated
Source: OREANDA-NEWS
OREANDA-NEWS The new tariffs of the European Union (EU) on imports of Chinese electric cars will cost Beijing almost four billion dollars. So the losses from the tightening of trade were estimated by analysts at the Kiel Institute of World Economy, as quoted by Bloomberg.
If Brussels imposes a 20 percent tariff on imports, the volume of electric vehicle supplies will decrease by a quarter - by about 125 thousand units. Sales of locally produced cars will increase by almost the same amount, experts suggest. At the same time, China has promised to impose retaliatory duties of up to 25 percent on cars with powerful engines, which will hit companies such as Mercedes-Benz Group and BMW.
Higher prices may hinder the EU's transition to electric vehicles, as the bloc previously announced plans to virtually stop selling new cars with internal combustion engines by 2035. The implementation of this plan will require that low-income citizens, especially in the south and east of the union, can afford to purchase a car with a power plant.
If Brussels imposes a 20 percent tariff on imports, the volume of electric vehicle supplies will decrease by a quarter - by about 125 thousand units. Sales of locally produced cars will increase by almost the same amount, experts suggest. At the same time, China has promised to impose retaliatory duties of up to 25 percent on cars with powerful engines, which will hit companies such as Mercedes-Benz Group and BMW.
Higher prices may hinder the EU's transition to electric vehicles, as the bloc previously announced plans to virtually stop selling new cars with internal combustion engines by 2035. The implementation of this plan will require that low-income citizens, especially in the south and east of the union, can afford to purchase a car with a power plant.
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