China and the European Union are locked in a trade battle over China's EV overcapacity. The European Commission plans to impose import duties on Chinese EVs, ranging from 17 per cent to 38 per cent, on top of its standard 10 per cent tariff for car imports.

As both countries agree on trade talks, let's see the possible outcomes in-store and the potential global implications.

What are provision measures?

Provisional duties can be imposed within nine months of starting the investigation. Definite duties, the deadline for which is November 3, is the time by which the EU has to conclude if the influx of Chinese EVs is hurting the EU's domestic industry.

Many European countries are reliant on China for EV imports. Germany's economy minister, Robert Habeck, has been vocal about conducting concrete negotiations with China. 'What I suggested to my Chinese partners today is that the doors are open for discussions &amp; I hope that this message was heard.' He said in Shanghai after meeting Chinese officials in Beijing.

The EU Commission is set to deliver its final verdict on July 4. China and EV producers have until July 18 to comment on the findings. The commission has reportedly visited more than 100 sites of EV automakers, both in China and Europe.

Definitive duties are expected to be lower than provisional rates. This is possible as some of the arguments are expected to hold ground. The commission must also consider Tesla's request for a separate duty rate.

EV prices are also expecting a jolt from this outcome. Due to China's competitive pricing, the discounted prices are expected to surge as exporters eye a minimum price to counter export curbs.

Who decides?

The European Commission has full powers to impose duties at the provisional stage, although it does consult EU members. This could potentially help China's cause since major EU members are against tariffs on China.

In case of definite duties, it can be blocked if a qualified EU majority, or 15 EU members, oppose the measures. This means the EU must address domestic industry concerns and keep them in sync with their plans. China is the world's largest car market, and many fear potential losses if tariffs are imposed. Many are concerned about China's retaliation. The pork industry is already reeling from the proposed tariffs on EU pork imports.

Concerned companies can challenge the decision at the European Court of Justice. China can also take the European Union to the World Trade Organisation. Either way, it will be a long process, and a compromised outcome is likely to happen.

China and the European Union are locked in a trade battle over China's EV overcapacity. The European Commission plans to impose import duties on Chinese EVs, ranging from 17 per cent to 38 per cent, on top of its standard 10 per cent tariff for car imports.

China and the European Union are locked in a trade battle over China's EV overcapacity. The European Commission plans to impose import duties on Chinese EVs, ranging from 17 per cent to 38 per cent, on top of its standard 10 per cent tariff for car imports. As both countries agree on trade talks, let's see the possible outcomes in-store and the potential global implications. What are provision measures? Provisional duties can be imposed within nine months of starting the investigation. Definite duties, the deadline for which is November 3, is the time by which the EU has to conclude if the influx of Chinese EVs is hurting the EU's domestic industry. Many European countries are reliant on China for EV imports. Germany's economy minister, Robert Habeck, has been vocal about conducting concrete negotiations with China. 'What I suggested to my Chinese partners today is that the doors are open for discussions & I hope that this message was heard.' He said in Shanghai after meeting Chinese officials in Beijing. The EU Commission is set to deliver its final verdict on July 4. China and EV producers have until July 18 to comment on the findings. The commission has reportedly visited more than 100 sites of EV automakers, both in China and Europe. Definitive duties are expected to be lower than provisional rates. This is possible as some of the arguments are expected to hold ground. The commission must also consider Tesla's request for a separate duty rate. EV prices are also expecting a jolt from this outcome. Due to China's competitive pricing, the discounted prices are expected to surge as exporters eye a minimum price to counter export curbs. Who decides? The European Commission has full powers to impose duties at the provisional stage, although it does consult EU members. This could potentially help China's cause since major EU members are against tariffs on China. In case of definite duties, it can be blocked if a qualified EU majority, or 15 EU members, oppose the measures. This means the EU must address domestic industry concerns and keep them in sync with their plans. China is the world's largest car market, and many fear potential losses if tariffs are imposed. Many are concerned about China's retaliation. The pork industry is already reeling from the proposed tariffs on EU pork imports. Concerned companies can challenge the decision at the European Court of Justice. China can also take the European Union to the World Trade Organisation. Either way, it will be a long process, and a compromised outcome is likely to happen.

Explainer: What happens next in the EU-China EV standoff

The trade war between China and the European Union continues to build. In the latest update, China is looking&nbsp;to convince Germany's car manufacturers with potential&nbsp;benefits if they can persuade the EU to drop tariffs on Chinese EVs.

China currently imposes a 15 per cent fee on passenger vehicles from Germany. The tariff-hit country is considering floating the fees in exchange for scrapping planned EV levies on its imports.

China's Commerce Minister Wang Wentao hinted at the possibilities during a meeting with Germany's Vice Chancellor Robert Habeck on Saturday. Germany has been vocal about the potential threat to business if the EU goes ahead with these tariffs. Germany also faces a threat from China's proposed tariffs on EU pork imports.

German Chancellor Olaf Scholz had earlier underscored the government's wish for a favourable solution. China and the EU are currently under discussion regarding tariffs. China must address these disputes, as Canada joins the league of countries moving against its countries trade tactics.

This also reflects China's tactics to persuade the EU against these tariffs. While proposed duties on EU pork imports are underway, China is also trying the backdoor to squash trade tensions with the EU. China is already facing growing scrutiny from the US regarding 'overcapacity' concerns.

The trade war between China and the European Union continues to build. In the latest update, China is looking to convince Germany's car manufacturers with potential benefits if they can persuade the EU to drop tariffs on Chinese EVs.

The trade war between China and the European Union continues to build. In the latest update, China is looking to convince Germany's car manufacturers with potential benefits if they can persuade the EU to drop tariffs on Chinese EVs. China currently imposes a 15 per cent fee on passenger vehicles from Germany. The tariff-hit country is considering floating the fees in exchange for scrapping planned EV levies on its imports. China's Commerce Minister Wang Wentao hinted at the possibilities during a meeting with Germany's Vice Chancellor Robert Habeck on Saturday. Germany has been vocal about the potential threat to business if the EU goes ahead with these tariffs. Germany also faces a threat from China's proposed tariffs on EU pork imports. German Chancellor Olaf Scholz had earlier underscored the government's wish for a favourable solution. China and the EU are currently under discussion regarding tariffs. China must address these disputes, as Canada joins the league of countries moving against its countries trade tactics. This also reflects China's tactics to persuade the EU against these tariffs. While proposed duties on EU pork imports are underway, China is also trying the backdoor to squash trade tensions with the EU. China is already facing growing scrutiny from the US regarding 'overcapacity' concerns.

China woos German carmakers to avoid EV tariffs

Beijing is pressing the European Union to drop its preliminary tariffs on Chinese electric vehicles (EVs) by July 4, as reported by China's state-controlled Global Times. This request follows an agreement between both parties to engage in new trade talks.

The European Union has proposed provisional duties of up to 38.1% on imported Chinese-made EVs, set to take effect on July 4. These measures are part of an investigation into alleged excessive and unfair subsidies to Chinese EV manufacturers. In response, China has repeatedly called for the cancellation of these tariffs, indicating a willingness to negotiate to avoid a potential tariff war. Beijing, still affected by the U.S. tariffs imposed during the Trump administration, has stated it will take all necessary steps to protect Chinese firms if a trade conflict ensues.

Recent developments in EU-China trade talks

The push to restart tariff talks was initiated after a call between EU Commissioner Valdis Dombrovskis and Chinese Commerce Minister Wang Wentao. This dialogue occurred during a visit to China by Germany's economy minister, who noted that discussions remain open. According to the Global Times, the optimal outcome would be the EU scrapping its tariff decision before the July 4 deadline.

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The underlying issues

The EU's move towards protectionism stems from concerns that China's production-focused development model could flood European markets with inexpensive goods. This fear is heightened as Chinese companies increase exports amid weak domestic demand. China has denied accusations of unfair subsidies and overcapacity, asserting that its EV industry's growth is due to technological advantages, market dynamics, and robust supply chains.

Zhang Yansheng, chief research fellow at the China Center for International Economic Exchanges, highlighted the geopolitical undertones of the EU's investigation. "When European Commission President Von der Leyen announced she would investigate China's new energy vehicles... I had an intuitive feeling it was not only an economic issue but also a geopolitical issue," Zhang stated. He argued that starting a tariff war based on capacity utilisation and insufficient demand considerations is unfair.

Historical context of EU-China trade relations

Trade relations between the EU and China deteriorated significantly in May 2021 when the European Parliament froze ratification of a landmark investment treaty. This decision followed tit-for-tat sanctions over allegations of human rights abuses in China's Xinjiang region. Further tensions arose when China downgraded diplomatic ties with Lithuania, urging multinationals to sever connections with the Baltic state after Vilnius invited Taiwan to open a representative office.

Potential retaliatory measures by China

While Beijing calls for dialogue, it also prepares retaliatory measures should the EU proceed with its tariffs. The Global Times reported that China might launch a tit-for-tat anti-dumping investigation into European pork imports, which the commerce ministry recently announced. Additionally, China hinted at possible anti-subsidy investigations into European dairy goods and tariffs on large-engined petrol cars.

Jacob Gunter, lead analyst at the Berlin-based China studies institute MERICS, indicated that Beijing might raise tariffs on Europe-made cars with engines of 2.5 litres or more. He also suggested that agricultural products like pork and dairy could be targeted. On the EU side, ongoing investigations using a new toolkit assembled by Brussels could result in measures against Chinese products ranging from medical devices to steel pipes.

The escalating trade tensions between the EU and China over electric vehicle tariffs highlight broader geopolitical and economic conflicts. As both sides prepare for further negotiations, the outcome will significantly impact the global EV market and trade relations between these major economic powers.

(Inputs from Reuters)

Beijing is pressing the European Union to drop its preliminary tariffs on Chinese electric vehicles (EVs) by July 4, as reported by China's state-controlled Global Times.

Beijing is pressing the European Union to drop its preliminary tariffs on Chinese electric vehicles (EVs) by July 4, as reported by China's state-controlled Global Times. This request follows an agreement between both parties to engage in new trade talks. The European Union has proposed provisional duties of up to 38.1% on imported Chinese-made EVs, set to take effect on July 4. These measures are part of an investigation into alleged excessive and unfair subsidies to Chinese EV manufacturers. In response, China has repeatedly called for the cancellation of these tariffs, indicating a willingness to negotiate to avoid a potential tariff war. Beijing, still affected by the U.S. tariffs imposed during the Trump administration, has stated it will take all necessary steps to protect Chinese firms if a trade conflict ensues. Recent developments in EU-China trade talks The push to restart tariff talks was initiated after a call between EU Commissioner Valdis Dombrovskis and Chinese Commerce Minister Wang Wentao. This dialogue occurred during a visit to China by Germany's economy minister, who noted that discussions remain open. According to the Global Times, the optimal outcome would be the EU scrapping its tariff decision before the July 4 deadline. Also read: Fisker faces liquidation amid creditor disputes The underlying issues The EU's move towards protectionism stems from concerns that China's production-focused development model could flood European markets with inexpensive goods. This fear is heightened as Chinese companies increase exports amid weak domestic demand. China has denied accusations of unfair subsidies and overcapacity, asserting that its EV industry's growth is due to technological advantages, market dynamics, and robust supply chains. Zhang Yansheng, chief research fellow at the China Center for International Economic Exchanges, highlighted the geopolitical undertones of the EU's investigation. "When European Commission President Von der Leyen announced she would investigate China's new energy vehicles... I had an intuitive feeling it was not only an economic issue but also a geopolitical issue," Zhang stated. He argued that starting a tariff war based on capacity utilisation and insufficient demand considerations is unfair. Historical context of EU-China trade relations Trade relations between the EU and China deteriorated significantly in May 2021 when the European Parliament froze ratification of a landmark investment treaty. This decision followed tit-for-tat sanctions over allegations of human rights abuses in China's Xinjiang region. Further tensions arose when China downgraded diplomatic ties with Lithuania, urging multinationals to sever connections with the Baltic state after Vilnius invited Taiwan to open a representative office. Potential retaliatory measures by China While Beijing calls for dialogue, it also prepares retaliatory measures should the EU proceed with its tariffs. The Global Times reported that China might launch a tit-for-tat anti-dumping investigation into European pork imports, which the commerce ministry recently announced. Additionally, China hinted at possible anti-subsidy investigations into European dairy goods and tariffs on large-engined petrol cars. Jacob Gunter, lead analyst at the Berlin-based China studies institute MERICS, indicated that Beijing might raise tariffs on Europe-made cars with engines of 2.5 litres or more. He also suggested that agricultural products like pork and dairy could be targeted. On the EU side, ongoing investigations using a new toolkit assembled by Brussels could result in measures against Chinese products ranging from medical devices to steel pipes. The escalating trade tensions between the EU and China over electric vehicle tariffs highlight broader geopolitical and economic conflicts. As both sides prepare for further negotiations, the outcome will significantly impact the global EV market and trade relations between these major economic powers. (Inputs from Reuters)

Beijing pushes EU to scrap preliminary EV tariffs by July 4

China is urging the European Union to lift its provisional tariffs on Chinese-made electric vehicles (EVs) ahead of the July 4 deadline, as reported by China's state-run Global Times newspaper.

Talks between the two economic blocs are set to resume after both sides have agreed to engage in discussions.

The EU imposed preliminary duties on Chinese EVs of up to 38.1 per cent in October 2023. The bloc claims these tariffs are necessary to counter what it views as excessive subsidies provided to Chinese EV manufacturers.

China denies the accusations, stating that the success of its EV industry is due to advancements in technology, market dominance, and a strong domestic supply chain for EV components.

Beijing is eager to avoid a full-blown trade war, especially after encountering difficulties due to tariffs imposed by the United States during the Trump administration.

However, China has warned that it will take necessary measures to protect its companies if a trade war erupts.

The EU trade chief Valdis Dombrovskis and China's Commerce Minister Wang Wentao are set to have discussions following a phone call.

This call took place during a visit by the economy minister of Germany to China, where he indicated that the EU is open to discussions on the issue.

The Global Times, citing unnamed observers, said that the EU rescinding the tariffs before the July 4 deadline would be the best outcome.

The newspaper also warned that the EU's increasingly protectionist stance could lead to retaliatory actions from China, potentially escalating trade tensions and harming both economies.

The EU is expected to conclude its investigation into alleged unfair subsidies in November 2024, at which point the provisional tariffs will be finalised.

(With inputs from Reuters)

China is urging the European Union to lift its provisional tariffs on Chinese-made electric vehicles (EVs) ahead of the July 4 deadline, as reported by China's state-run Global Times newspaper.

China is urging the European Union to lift its provisional tariffs on Chinese-made electric vehicles (EVs) ahead of the July 4 deadline, as reported by China's state-run Global Times newspaper. Talks between the two economic blocs are set to resume after both sides have agreed to engage in discussions. The EU imposed preliminary duties on Chinese EVs of up to 38.1 per cent in October 2023. The bloc claims these tariffs are necessary to counter what it views as excessive subsidies provided to Chinese EV manufacturers. China denies the accusations, stating that the success of its EV industry is due to advancements in technology, market dominance, and a strong domestic supply chain for EV components. Beijing is eager to avoid a full-blown trade war, especially after encountering difficulties due to tariffs imposed by the United States during the Trump administration. However, China has warned that it will take necessary measures to protect its companies if a trade war erupts. The EU trade chief Valdis Dombrovskis and China's Commerce Minister Wang Wentao are set to have discussions following a phone call. This call took place during a visit by the economy minister of Germany to China, where he indicated that the EU is open to discussions on the issue. The Global Times, citing unnamed observers, said that the EU rescinding the tariffs before the July 4 deadline would be the best outcome. The newspaper also warned that the EU's increasingly protectionist stance could lead to retaliatory actions from China, potentially escalating trade tensions and harming both economies. The EU is expected to conclude its investigation into alleged unfair subsidies in November 2024, at which point the provisional tariffs will be finalised. (With inputs from Reuters)

China seeks removal of EU tariffs on EVs before July 4 deadline

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Europe is currently struggling with high inflation and trade friction with China. This has affected Europe's job market, with layoff announcements across industries.

Since the start of April, TSB, the British Bank owned by Spain's Sabadell, is seeking 250 job cuts. Beyond Banking, the French supermarket chain CASINO said it would cut over 3000 jobs to address financial woes. Ted Baker, another retailer, announced the closure of 15 stories in Britain and 250 job cuts. Similar layoffs have been announced in the tech and mining sectors.

This comes amid the European Union's tussle with China over its trade surplus. The EU levied tariffs up to 38 per cent on certain Chinese EVs. The commission defended the move, saying it was to protect domestic industries from cheap Chinese goods. However, major European economies have voiced concerns over the potential economic threats lurking in going after the largest car market in the world.

China's retaliatory probe on EU pork imports further complicates matters. EU farmers are currently in the crossfire. China is the largest pork consumer in the world, with four major EU nations as top exporters to China. Rising energy costs further threaten farmer profits, prompting processors to cut jobs.

Europe's economic woes are highlighted in the soaring housing costs. Barcelona, a popular tourist destination, announced plans to shut all holiday apartments by 2028. This 'drastic' move aims to counter the soaring home prices. The country's growth rate was recently revised downward to an average of 1 per cent.

Europe is currently struggling with high inflation and trade friction with China. This has affected Europe's job market, with layoff announcements across industries.

Europe is currently struggling with high inflation and trade friction with China. This has affected Europe's job market, with layoff announcements across industries. Since the start of April, TSB, the British Bank owned by Spain's Sabadell, is seeking 250 job cuts. Beyond Banking, the French supermarket chain CASINO said it would cut over 3000 jobs to address financial woes. Ted Baker, another retailer, announced the closure of 15 stories in Britain and 250 job cuts. Similar layoffs have been announced in the tech and mining sectors. This comes amid the European Union's tussle with China over its trade surplus. The EU levied tariffs up to 38 per cent on certain Chinese EVs. The commission defended the move, saying it was to protect domestic industries from cheap Chinese goods. However, major European economies have voiced concerns over the potential economic threats lurking in going after the largest car market in the world. China's retaliatory probe on EU pork imports further complicates matters. EU farmers are currently in the crossfire. China is the largest pork consumer in the world, with four major EU nations as top exporters to China. Rising energy costs further threaten farmer profits, prompting processors to cut jobs. Europe's economic woes are highlighted in the soaring housing costs. Barcelona, a popular tourist destination, announced plans to shut all holiday apartments by 2028. This 'drastic' move aims to counter the soaring home prices. The country's growth rate was recently revised downward to an average of 1 per cent.

Europe's economy in flux: Companies cut jobs as inflation and trade friction with China bites

The European Commission's recent probe into Chinese electric vehicle (EV) imports has ignited significant tensions between the European Union (EU) and China. The investigation, which scrutinised Chinese automakers' supply chains, has been labelled "unprecedented" by China's commerce ministry. This in-depth probe culminated in the EU imposing additional duties on Chinese EV imports, prompting sharp criticism from Beijing and allegations of espionage from Chinese state media.

Scope of the investigation

He Yadong, a spokesperson for China's commerce ministry, highlighted the extensive nature of the information requested by the European Commission during the investigation. "The type, scope, and quantity of information collected by the European side was unprecedented and far more than what is required for a countervailing duties investigation," He stated at a news conference. The Commission reportedly demanded detailed data on sourcing raw materials for batteries, manufacturing components, and the development of sales channels from Chinese automakers.

This level of scrutiny has led to accusations from Chinese state media, such as CCTV, suggesting that the European Commission's investigation was an attempt to spy on China's burgeoning EV industry.

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European commission's rationale

The European Commission's probe was driven by concerns over the influx of lower-cost Chinese EVs into the European market. These vehicles, often priced around 20% lower than EU-made models, are seen as benefiting from unfair subsidies, thus undermining European automakers. The EU typically imposes anti-subsidy duties to protect domestic firms from foreign goods produced at artificially low prices due to government incentives or handouts.

The Commission's decision to impose additional duties on Chinese EV imports is part of its broader strategy to safeguard the European automotive industry. Chinese automakers deemed non-cooperative, such as SAIC, will face a substantial tariff of 38.1% once the provisional duties take effect, likely in July.

China's response and countermeasures

China has vehemently denied the European Commission's claims and has criticised the investigation process. He Yadong dismissed the allegations of non-cooperation from Chinese car companies as "groundless." In a bid to counter the EU's actions, China has launched its own investigation into EU pork imports, signalling a tit-for-tat trade dispute.

The Chinese government has expressed its displeasure through various channels. The commerce ministry's spokesperson underscored that the extensive information requests during the probe went beyond standard requirements for a countervailing duties investigation. This sentiment was echoed by Chinese state media, which suggested ulterior motives behind the EU's demands.

Impact on the EV market

The escalating trade tensions between the EU and China could have significant implications for the global EV market. The additional duties on Chinese EVs might lead to higher prices for European consumers and could slow down the adoption of electric vehicles in the region. On the other hand, the tariffs aim to level the playing field for European automakers who are investing heavily in their own EV production capabilities.

The European Commission's stringent measures reflect its commitment to protecting the domestic automotive industry from perceived unfair competition. However, the backlash from China indicates a growing friction that could spill over into other sectors and further complicate trade relations between the two economic giants.

Looking ahead

As both the EU and China navigate this contentious issue, the broader implications for international trade and the EV industry remain uncertain. The EU's actions underscore the complex dynamics of global trade, where protecting domestic industries often leads to retaliatory measures and increased tensions. The outcome of this dispute will likely shape the future of EV manufacturing and trade policies between the EU and China.

The European Commission's decision to impose additional duties on Chinese EV imports represents a significant development in the ongoing trade tensions. The detailed investigation into Chinese automakers' supply chains and the subsequent tariffs highlight the challenges and complexities of regulating international trade in the rapidly evolving EV market.

(Inputs from Reuters)

The European Commission's recent probe into Chinese electric vehicle (EV) imports has ignited significant tensions between the European Union (EU) and China. The investigation, which scrutinised Chinese automakers' supply chains, has been labelled "unprecedented" by China's commerce ministry.

The European Commission's recent probe into Chinese electric vehicle (EV) imports has ignited significant tensions between the European Union (EU) and China. The investigation, which scrutinised Chinese automakers' supply chains, has been labelled "unprecedented" by China's commerce ministry. This in-depth probe culminated in the EU imposing additional duties on Chinese EV imports, prompting sharp criticism from Beijing and allegations of espionage from Chinese state media. Scope of the investigation He Yadong, a spokesperson for China's commerce ministry, highlighted the extensive nature of the information requested by the European Commission during the investigation. "The type, scope, and quantity of information collected by the European side was unprecedented and far more than what is required for a countervailing duties investigation," He stated at a news conference. The Commission reportedly demanded detailed data on sourcing raw materials for batteries, manufacturing components, and the development of sales channels from Chinese automakers. This level of scrutiny has led to accusations from Chinese state media, such as CCTV, suggesting that the European Commission's investigation was an attempt to spy on China's burgeoning EV industry. Read more: Hyundai defies EV slowdown with new models and strategic expansions in Europe European commission's rationale The European Commission's probe was driven by concerns over the influx of lower-cost Chinese EVs into the European market. These vehicles, often priced around 20% lower than EU-made models, are seen as benefiting from unfair subsidies, thus undermining European automakers. The EU typically imposes anti-subsidy duties to protect domestic firms from foreign goods produced at artificially low prices due to government incentives or handouts. The Commission's decision to impose additional duties on Chinese EV imports is part of its broader strategy to safeguard the European automotive industry. Chinese automakers deemed non-cooperative, such as SAIC, will face a substantial tariff of 38.1% once the provisional duties take effect, likely in July. China's response and countermeasures China has vehemently denied the European Commission's claims and has criticised the investigation process. He Yadong dismissed the allegations of non-cooperation from Chinese car companies as "groundless." In a bid to counter the EU's actions, China has launched its own investigation into EU pork imports, signalling a tit-for-tat trade dispute. The Chinese government has expressed its displeasure through various channels. The commerce ministry's spokesperson underscored that the extensive information requests during the probe went beyond standard requirements for a countervailing duties investigation. This sentiment was echoed by Chinese state media, which suggested ulterior motives behind the EU's demands. Impact on the EV market The escalating trade tensions between the EU and China could have significant implications for the global EV market. The additional duties on Chinese EVs might lead to higher prices for European consumers and could slow down the adoption of electric vehicles in the region. On the other hand, the tariffs aim to level the playing field for European automakers who are investing heavily in their own EV production capabilities. The European Commission's stringent measures reflect its commitment to protecting the domestic automotive industry from perceived unfair competition. However, the backlash from China indicates a growing friction that could spill over into other sectors and further complicate trade relations between the two economic giants. Looking ahead As both the EU and China navigate this contentious issue, the broader implications for international trade and the EV industry remain uncertain. The EU's actions underscore the complex dynamics of global trade, where protecting domestic industries often leads to retaliatory measures and increased tensions. The outcome of this dispute will likely shape the future of EV manufacturing and trade policies between the EU and China. The European Commission's decision to impose additional duties on Chinese EV imports represents a significant development in the ongoing trade tensions. The detailed investigation into Chinese automakers' supply chains and the subsequent tariffs highlight the challenges and complexities of regulating international trade in the rapidly evolving EV market. (Inputs from Reuters)

EU probe into Chinese EV imports sparks tensions and allegations

The European Union's anti-subsidy investigation into Chinese electric vehicles (EVs) has significantly impacted the sales and investment confidence of Chinese EV firms in Europe. A recent survey conducted by the China Chamber of Commerce to the EU and the China Economic Information Service reveals a marked decline in optimism and sales among Chinese EV manufacturers due to this probe.

The survey, conducted in April and May, highlights that 82% of Chinese vehicle and industry chain firms reported a loss of confidence in investing in Europe. This stark statistic underscores the adverse effects of the EU’s investigation on the willingness of Chinese companies to commit to the European market in the near future.

Sales decline amid uncertainty

According to the survey, 73% of respondents experienced a decline in their sales in the European market as a direct consequence of the anti-subsidy investigation. This decline not only affects immediate revenue but also raises concerns about the long-term viability of Chinese EV manufacturers in Europe.

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Delayed collaborations and damaged brand image

The investigation has also led to delays and reductions in collaborations with European partners, including distributors and leasing companies. Many firms reported that the EU probe tarnished their brand image in Europe, making it more challenging to attract top European talent. The disruption in partnerships and brand perception poses significant hurdles for Chinese EV makers aiming to establish a robust presence in Europe.

EU's planned tariffs on Chinese EVs

The European Commission, which manages trade policy for the EU, announced plans to impose additional duties of up to 38.1% on Chinese EV producers like BYD, Geely, and SAIC, as well as on Chinese-built cars from Tesla and other Western automakers. This move is intended to level the playing field and protect European automakers from what the EU perceives as unfair competition due to Chinese government subsidies.

Chinese response and strategic commitment

In response to the EU's actions, Chinese automakers have urged Beijing to increase tariffs on imported European gasoline-powered cars. This potential retaliatory measure reflects the heightened trade tensions between the two regions.

Despite these challenges, the survey indicates that Chinese EV manufacturers remain committed to the European market as a key strategic area. A majority of respondents expressed plans to establish factories in Europe within the next five years, highlighting a long-term vision for localisation and market integration.

Long-term goals versus immediate setbacks

The report accompanying the survey notes, "While increasing localisation in Europe remains a long-term strategic goal for these companies, the EU's actions have clearly dampened enthusiasm for such efforts." This statement captures the dichotomy between the immediate setbacks caused by the EU's probe and the enduring strategic aspirations of Chinese EV firms.

The EU's anti-subsidy investigation has had a profound impact on Chinese EV manufacturers, affecting sales, investment confidence, and brand reputation. While the long-term commitment of these firms to the European market remains strong, the investigation has undoubtedly introduced significant challenges. The evolving trade dynamics and potential retaliatory measures from China further complicate the landscape, suggesting a period of uncertainty and adjustment for Chinese EV manufacturers aiming to solidify their foothold in Europe.

(Inputs from Reuters)

The European Union's anti-subsidy investigation into Chinese electric vehicles (EVs) has significantly impacted the sales and investment confidence of Chinese EV firms in Europe.

The European Union's anti-subsidy investigation into Chinese electric vehicles (EVs) has significantly impacted the sales and investment confidence of Chinese EV firms in Europe. A recent survey conducted by the China Chamber of Commerce to the EU and the China Economic Information Service reveals a marked decline in optimism and sales among Chinese EV manufacturers due to this probe. The survey, conducted in April and May, highlights that 82% of Chinese vehicle and industry chain firms reported a loss of confidence in investing in Europe. This stark statistic underscores the adverse effects of the EU’s investigation on the willingness of Chinese companies to commit to the European market in the near future. Sales decline amid uncertainty According to the survey, 73% of respondents experienced a decline in their sales in the European market as a direct consequence of the anti-subsidy investigation. This decline not only affects immediate revenue but also raises concerns about the long-term viability of Chinese EV manufacturers in Europe. Also read: Northvolt reevaluates plans for Borlange Gigafactory amid strategic review Delayed collaborations and damaged brand image The investigation has also led to delays and reductions in collaborations with European partners, including distributors and leasing companies. Many firms reported that the EU probe tarnished their brand image in Europe, making it more challenging to attract top European talent. The disruption in partnerships and brand perception poses significant hurdles for Chinese EV makers aiming to establish a robust presence in Europe. EU's planned tariffs on Chinese EVs The European Commission, which manages trade policy for the EU, announced plans to impose additional duties of up to 38.1% on Chinese EV producers like BYD, Geely, and SAIC, as well as on Chinese-built cars from Tesla and other Western automakers. This move is intended to level the playing field and protect European automakers from what the EU perceives as unfair competition due to Chinese government subsidies. Chinese response and strategic commitment In response to the EU's actions, Chinese automakers have urged Beijing to increase tariffs on imported European gasoline-powered cars. This potential retaliatory measure reflects the heightened trade tensions between the two regions. Despite these challenges, the survey indicates that Chinese EV manufacturers remain committed to the European market as a key strategic area. A majority of respondents expressed plans to establish factories in Europe within the next five years, highlighting a long-term vision for localisation and market integration. Long-term goals versus immediate setbacks The report accompanying the survey notes, "While increasing localisation in Europe remains a long-term strategic goal for these companies, the EU's actions have clearly dampened enthusiasm for such efforts." This statement captures the dichotomy between the immediate setbacks caused by the EU's probe and the enduring strategic aspirations of Chinese EV firms. The EU's anti-subsidy investigation has had a profound impact on Chinese EV manufacturers, affecting sales, investment confidence, and brand reputation. While the long-term commitment of these firms to the European market remains strong, the investigation has undoubtedly introduced significant challenges. The evolving trade dynamics and potential retaliatory measures from China further complicate the landscape, suggesting a period of uncertainty and adjustment for Chinese EV manufacturers aiming to solidify their foothold in Europe. (Inputs from Reuters)

EU's anti-subsidy probe dampens Chinese EV makers' confidence and sales in Europe

European Union countries approved a flagship policy to restore damaged nature on Monday (June 17), after months of delay, making it the first green law to pass since European Parliament elections this month.

The nature restoration law is among the EU's biggest environmental policies, requiring member states to introduce measures restoring nature on a fifth of their land and sea by 2030.

EU countries' environment ministers backed the policy at a meeting in Luxembourg, meaning it can now pass into law.

The vote was held after Austria's environment minister, Leonore Gewessler of the Greens, defied her conservative coalition partners by pledging to back the policy - giving it just enough support to pass.

Also read:&nbsp;<a href="https://www.wionews.com/world/greek-coastguard-threw-migrants-into-sea-after-tying-their-hands-report-732521">Greek coastguard threw migrants into sea after tying their hands: Report</a>

The policy aims to reverse the decline of Europe's natural habitats - 81% of which are classed as being in poor health - and includes specific targets, for example to restore peat lands so they can absorb CO2 emissions.

EU countries and the European Parliament negotiated a deal on the law last year but it has come under fire from some governments in recent months amid protests by farmers angry at costly EU regulations.

EU countries had planned to approve the policy in March but called off the vote after Hungary unexpectedly withdrew its support, wiping out the slim majority in favour.

European Union countries approved a flagship policy to restore damaged nature on Monday (June 17), after months of delay, making it the first green law to pass since European Parliament elections this month.

European Union countries approved a flagship policy to restore damaged nature on Monday (June 17), after months of delay, making it the first green law to pass since European Parliament elections this month. The nature restoration law is among the EU's biggest environmental policies, requiring member states to introduce measures restoring nature on a fifth of their land and sea by 2030. EU countries' environment ministers backed the policy at a meeting in Luxembourg, meaning it can now pass into law. The vote was held after Austria's environment minister, Leonore Gewessler of the Greens, defied her conservative coalition partners by pledging to back the policy - giving it just enough support to pass. Also read: Greek coastguard threw migrants into sea after tying their hands: Report The policy aims to reverse the decline of Europe's natural habitats - 81% of which are classed as being in poor health - and includes specific targets, for example to restore peat lands so they can absorb CO2 emissions. EU countries and the European Parliament negotiated a deal on the law last year but it has come under fire from some governments in recent months amid protests by farmers angry at costly EU regulations. EU countries had planned to approve the policy in March but called off the vote after Hungary unexpectedly withdrew its support, wiping out the slim majority in favour.

EU countries approve landmark nature law after delays

Tens of thousands of people took to the streets across France&nbsp;on Saturday (Jun 15) to protest against the far-right National Rally (RN) party ahead of the upcoming snap parliamentary elections. The protests were joined by labour unions as well as student groups and rights groups to oppose the anti-immigration, eurosceptic party.

<h2>Protests across France</h2>

Around 250,000 people took to the streets across France, according to the interior ministry, despite rainy and windy weather amid fears that the&nbsp;snap elections may lead to the first far-right government in the country since World War II.&nbsp;

WATCH |&nbsp;Thousands march ahead of French elections

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In Paris, 75,000 protesters gathered at the Place de la Republique before marching through the eastern part of the city. According to French officials, up to 21,000 police and gendarmes were deployed.&nbsp;

The protesters held signs that read “Liberty for all, Equality for all and Fraternity with all” – a reference to France’s national motto.&nbsp;

<h2>Three officers injured, nine arrested</h2>

A report by Reuters citing an eyewitness video said that scuffles broke out during the protest in the French capital after some demonstrators carrying the red and black Antifa flag clashed with armoured riot police.&nbsp;

The police in Paris reported “numerous attempts at damage” by protesters, according to the Associated Press. They also reportedly arrested nine demonstrators and said three officers were injured.&nbsp;

An AP journalist said police used tear gas against demonstrators who tried to vandalise a bus stop and advertising boards.

<h2>What are the protests about?</h2>

In a surprise move last week, French President Emmanuel Macron dissolved the lower house of France’s parliament and called a snap election after his centrist Renaissance party was defeated by the far-right in the European elections.

Also Read |&nbsp;<a href="https://www.wionews.com/world/russian-su-24-bomber-briefly-violates-swedish-airspace-732057">Russian SU-24 bomber briefly violates Swedish airspace</a>

The elections will take place in two rounds on June 30 and July 7. Macron will remain president until 2027, however, if RN wins, his presidency will be weakened.&nbsp;

The unions in France noted that far-right leaders across the world, including Europe, have passed laws detrimental to women, the LGBTQ+ community, and people of colour.&nbsp;

Recent opinion polls show RN would lead in the first round of the election with 33 per cent votes, followed by <a href="https://www.wionews.com/world/major-left-wing-parties-in-france-form-popular-front-to-challenge-macron-in-snap-polls-731777">Popular Front</a> (25 per cent) and Macron’s Renaissance party (20 per cent).&nbsp;

(With inputs from agencies) 
&nbsp;

Tens of thousands of people took to the streets across France on Saturday (Jun 15) to protest against the far-right National Rally (RN) party ahead of the upcoming snap parliamentary elections.

Tens of thousands of people took to the streets across France on Saturday (Jun 15) to protest against the far-right National Rally (RN) party ahead of the upcoming snap parliamentary elections. The protests were joined by labour unions as well as student groups and rights groups to oppose the anti-immigration, eurosceptic party. Protests across France Around 250,000 people took to the streets across France, according to the interior ministry, despite rainy and windy weather amid fears that the snap elections may lead to the first far-right government in the country since World War II. WATCH | Thousands march ahead of French elections In Paris, 75,000 protesters gathered at the Place de la Republique before marching through the eastern part of the city. According to French officials, up to 21,000 police and gendarmes were deployed. The protesters held signs that read “Liberty for all, Equality for all and Fraternity with all” – a reference to France’s national motto. Three officers injured, nine arrested A report by Reuters citing an eyewitness video said that scuffles broke out during the protest in the French capital after some demonstrators carrying the red and black Antifa flag clashed with armoured riot police. The police in Paris reported “numerous attempts at damage” by protesters, according to the Associated Press. They also reportedly arrested nine demonstrators and said three officers were injured. An AP journalist said police used tear gas against demonstrators who tried to vandalise a bus stop and advertising boards. What are the protests about? In a surprise move last week, French President Emmanuel Macron dissolved the lower house of France’s parliament and called a snap election after his centrist Renaissance party was defeated by the far-right in the European elections. Also Read | Russian SU-24 bomber briefly violates Swedish airspace The elections will take place in two rounds on June 30 and July 7. Macron will remain president until 2027, however, if RN wins, his presidency will be weakened. The unions in France noted that far-right leaders across the world, including Europe, have passed laws detrimental to women, the LGBTQ+ community, and people of colour. Recent opinion polls show RN would lead in the first round of the election with 33 per cent votes, followed by Popular Front (25 per cent) and Macron’s Renaissance party (20 per cent). (With inputs from agencies)

France elections: Thousands march across country in protest against far-right ahead of snap polls

It's been high election drama in Europe as predicted, The block has taken a sharp right turn and this comes amid the challenging political landscape. Here is a report on five key takeaways from the European Union's parliamentary polls. Watch in for more details!

Germany fractious coalition faces historic defeat at EU polls, can it recover after EU vote?

Can German coalition recover after EU vote? Chancellor Scholz calls on coaliton to 'stick together'

The ambassadors of the European Union, on Friday (Jun 14) agreed to formally start accession negotiations with Ukraine and Moldova, said the Belgian EU presidency. The agreement comes amid the ongoing war between Russia and Ukraine, and accusations that Moscow is planning to destabilise the government in Chisinau.&nbsp;

<h2>EU agrees ‘in principle’</h2>

Belgium, which holds the six-month rotating presidency of the EU, said that the decision should be officially cleared following the finance and economy ministers' meeting next Friday (Jun 21), reported Reuters.&nbsp;

“Ambassadors agreed in principle on the negotiating frameworks for the accession negotiations of Ukraine and Moldova,” said the Belgian presidency in a post on X. It added that the first intergovernmental conferences will take place on June 25.

The agreement came ahead of the Ukraine peace summit which will take place in the Swiss mountain top resort of Buergenstoc over the weekend in a bid to end the ongoing war between Kyiv and Moscow.

Also Read |&nbsp;<a href="https://www.wionews.com/world/putin-slams-wests-hypocrisy-sets-out-conditions-for-peace-talks-with-ukraine-731812">Putin slams West's 'hypocrisy', sets out conditions for peace talks with Ukraine</a>

The announcement also comes a week after the EU Commission said both countries met all the criteria for accession negotiations formally to begin. The criteria included efforts to curb the power of oligarchs and better ensure the rights of ethnic minorities.

Ukraine and its neighbouring Moldova had applied to join the 27-nation bloc shortly after the beginning of the Russian invasion in 2022.&nbsp;

However, Hungary, which has close ties to Russia, as well as the new right-wing government in the Netherlands could derail the move. All 27 EU member nations must unanimously agree to formally start the accession negotiations, which could go on for years.&nbsp;

The EU Commission and Belgium had been keen on reaching an agreement before Hungary took over the rotating presidency from July 1 for the next six months. Belgium’s presidency ends on June 30.&nbsp;

Charles Michel, president of the European Council, took to X and welcomed the agreement and said that he looks forward to the first intergovernmental conferences with both, Kyiv and Chisinau.&nbsp;

He added, “We keep our promises and we will support you along the way to membership”.&nbsp;

<h2>Ukraine and Moldova’s long road to EU membership</h2>

The beginning of the negotiations would lead both Ukraine and Moldova to the start of what is likely to be a years-long process of reforms before they can become members of the 27-nation bloc.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/world/uk-us-and-canada-accuse-russia-of-interfering-in-moldovan-elections-731567">UK, US, and Canada accuse Russia of interfering in Moldovan elections</a>

Officials in Moldova have repeatedly accused the Kremlin of seeking to destabilise the country, particularly since Russia began its full-scale invasion of Ukraine.&nbsp;

The United States, Britain, and Canada, on Thursday (Jun 13) accused Russia of carrying out a plot to sway the outcome of the Moldovan presidential election which will take place in October.&nbsp;

According to a statement by the US State Department, Russia is working to exacerbate societal tensions and foment negative perceptions of the West as well as the incumbent government of pro-Western Moldovan President Maia Sandu.&nbsp;

(With inputs from agencies) 
&nbsp;

The ambassadors of the European Union, on Friday (Jun 14) agreed to formally start accession negotiations with Ukraine and Moldova, said the Belgian EU presidency.

The ambassadors of the European Union, on Friday (Jun 14) agreed to formally start accession negotiations with Ukraine and Moldova, said the Belgian EU presidency. The agreement comes amid the ongoing war between Russia and Ukraine, and accusations that Moscow is planning to destabilise the government in Chisinau. EU agrees ‘in principle’ Belgium, which holds the six-month rotating presidency of the EU, said that the decision should be officially cleared following the finance and economy ministers' meeting next Friday (Jun 21), reported Reuters. “Ambassadors agreed in principle on the negotiating frameworks for the accession negotiations of Ukraine and Moldova,” said the Belgian presidency in a post on X. It added that the first intergovernmental conferences will take place on June 25. The agreement came ahead of the Ukraine peace summit which will take place in the Swiss mountain top resort of Buergenstoc over the weekend in a bid to end the ongoing war between Kyiv and Moscow. Also Read | Putin slams West's 'hypocrisy', sets out conditions for peace talks with Ukraine The announcement also comes a week after the EU Commission said both countries met all the criteria for accession negotiations formally to begin. The criteria included efforts to curb the power of oligarchs and better ensure the rights of ethnic minorities. Ukraine and its neighbouring Moldova had applied to join the 27-nation bloc shortly after the beginning of the Russian invasion in 2022. However, Hungary, which has close ties to Russia, as well as the new right-wing government in the Netherlands could derail the move. All 27 EU member nations must unanimously agree to formally start the accession negotiations, which could go on for years. The EU Commission and Belgium had been keen on reaching an agreement before Hungary took over the rotating presidency from July 1 for the next six months. Belgium’s presidency ends on June 30. Charles Michel, president of the European Council, took to X and welcomed the agreement and said that he looks forward to the first intergovernmental conferences with both, Kyiv and Chisinau. He added, “We keep our promises and we will support you along the way to membership”. Ukraine and Moldova’s long road to EU membership The beginning of the negotiations would lead both Ukraine and Moldova to the start of what is likely to be a years-long process of reforms before they can become members of the 27-nation bloc. Also Read | UK, US, and Canada accuse Russia of interfering in Moldovan elections Officials in Moldova have repeatedly accused the Kremlin of seeking to destabilise the country, particularly since Russia began its full-scale invasion of Ukraine. The United States, Britain, and Canada, on Thursday (Jun 13) accused Russia of carrying out a plot to sway the outcome of the Moldovan presidential election which will take place in October. According to a statement by the US State Department, Russia is working to exacerbate societal tensions and foment negative perceptions of the West as well as the incumbent government of pro-Western Moldovan President Maia Sandu. (With inputs from agencies)

European Union agrees 'in principle' on starting membership talks with Ukraine, Moldova

The European Union’s tariffs on electric vehicles imported from china has ignited a trade dispute. The EU accuses china of unfairly subsidizing its ev industry, giving Chinese manufacturers a competitive edge. China vehemently denies these claims, calling the tariffs "Protectionist."

China considers anti-dumping probe on EU pork imports

The European Commission has announced it will impose additional tariffs of up to 38.1 percent on imported chinese electric vehicles starting in July. This decision aims to combat what brussels describes as excessive subsidies provided to Chinese carmakers. Take a look at this next report for more on this.

China warns of retaliation as EU targets subsidised EVs

Take a look at all the news from the world of technology.

EU hits China EVs with upto 38% tariffs | South Korea: Google, Apple fined

It's been high election drama in Europe as predicted, The block has taken a sharp right turn and this comes amid the challenging political landscape. Here is a report on five key takeaways from the European Union's parliamentary polls.

EU elections: Far-right makes strong gains; ruling parties suffer

EU election results: Far-right makes strong gains; setbacks for Macron in France, Scholz in Germany

EU Elections: From trade to climate, key takeaways from the election results

As results of elections to the EU Parliament's role in the jitters and tremors become all too visible with big gains for the far right. Now first predictions show that the center-right European People's party has strengthened its majority at the top of the list.

French President Macron dissolves parliament, calls snap polls

Germany's Chancellor Olaf Scholz has spoken out against the European Union's tariffs proposition on Chinese EVs. Scholz emphasized that trade barriers and isolation measures ultimately harm all parties involved, making goods more expensive and everyone poorer.

Germany urges against trade barriers as EU plans EV tariffs

French President dissolves parliament; Far-right gains in Germany, Italy and Austria

High election drama in Europe as results of elections to the EU parliament came in. A decided highlight has been with big Gams for the far right virtually across the board with some big shockers for many at the top of the list, French president Emanuel Macron dissolved his country's Parliament called Snap elections.

EU election results: Far-right parties in France, Italy, Germany and Austria on top

EU election results: Setback for Macron in France; Scholz in Germany

Italian Prime Minister Giorgia Meloni's far-right party secured the majority of votes and emerged victorious in the European parliamentary election, depicted the early trends on Monday (June 10).

"Thank you," Meloni said. "It seems that the Italian system is, so to speak, again, becoming a bipolar system. It's good news."

As per the projected forecasts based on the early count, Meloni's party Brothers of Italy polled 28 per cent of votes, demonstrating a sharp rise from its performance in the previous EU election in the year 2019 and also surpassing the 26 per cent she received during the September 2022 national elections, when the party rose to power.

Taking to her official X account, she thanked the voters as she posted a picture flashing the victory symbol.

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet">
GRAZIE! 🇮🇹<a href="https://twitter.com/FratellidItalia?ref_src=twsrc%5Etfw">@FratellidItalia</a> si conferma primo partito italiano, superando il risultato delle scorse elezioni politiche. <a href="https://t.co/uYHHm4Nm6S">pic.twitter.com/uYHHm4Nm6S</a>
— Giorgia Meloni (@GiorgiaMeloni) <a href="https://twitter.com/GiorgiaMeloni/status/1799933921117020255?ref_src=twsrc%5Etfw">June 9, 2024</a></blockquote>
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&nbsp;

The second in the list was the opposition centre-left Democratic Party, which secured 23.7 per cent with another opposition group, the 5-Star Movement, with 10.5 per cent.

The EU ballot showed that Meloni's ruling coalition, which comprised of parties that go on from the centre-right to the far right of the political scope,&nbsp;witnessed its support shoot up to over 46 per cent from less than 43 per cent in the year 2022.

"I think this vote is certainly going to strengthen the government," said Licia Ronzulli, a senator with the ruling coalition Forza Italia party.

Forza Italia, founded by the late Silvio Berlusconi, stood up fourth in the list as it secured 10 per cent.

<a href="https://www.wionews.com/india-news/pm-modi-dials-italian-counterpart-meloni-thanks-her-for-invite-to-g7-summit-outreach-session-715002">Also read:&nbsp;PM Modi dials Italian counterpart Meloni, thanks her for invite to G7 Summit Outreach Session</a>

<h2>Macron calls snap elections in France</h2>

Meanwhile, French President Emmanuel Macron on Sunday (Jun 9) announced that he was dissolving the parliament after the far-right defeated his centrist alliance in EU polls. Macron called snap legislative elections on June 30 and July 7.

Macron said that he can't pretend nothing has happened and that the outcome of the EU election is "not a good result for parties who defend Europe". He added the rise of nationalists was a danger for France and Europe.&nbsp;

The National Rally (RN) party inflicted a heavy defeat on Macron's camp. It scored over double the number of votes of the head of state's centrist alliance, projections indicated.&nbsp;

Projections published by several polling firms showed that the RN's list, led by Jordan Bardella, gained between 32.3 and 33 per cent of the vote compared with 14.8 to 15.2 per cent for Macron's alliance, which was led by his Renaissance party.&nbsp;

"Far right parties... are progressing everywhere in the continent. It is a situation to which I cannot resign myself," Macron said.&nbsp;

"I decided to give you the choice... Therefore I will dissolve the National Assembly tonight.&nbsp;

"This decision is serious and heavy but it is an act of confidence. Confidence in you, dear compatriots, and in the capacity of the French people to make the best choice for itself and future generations."&nbsp;

German Chancellor Olaf Scholz's coalition also suffered a defeat as all three parties in his government are trailing the conservatives and the far right, according to preliminary results.&nbsp;

(With inputs from agencies)

Italian Prime Minister Giorgia Meloni's far-right party secured the majority of votes and emerged victorious in the European parliamentary election, depicted the early trends on Monday (June 10).

Italian Prime Minister Giorgia Meloni's far-right party secured the majority of votes and emerged victorious in the European parliamentary election, depicted the early trends on Monday (June 10). "Thank you," Meloni said. "It seems that the Italian system is, so to speak, again, becoming a bipolar system. It's good news." As per the projected forecasts based on the early count, Meloni's party Brothers of Italy polled 28 per cent of votes, demonstrating a sharp rise from its performance in the previous EU election in the year 2019 and also surpassing the 26 per cent she received during the September 2022 national elections, when the party rose to power. Taking to her official X account, she thanked the voters as she posted a picture flashing the victory symbol. GRAZIE! 🇮🇹@FratellidItalia si conferma primo partito italiano, superando il risultato delle scorse elezioni politiche. pic.twitter.com/uYHHm4Nm6S — Giorgia Meloni (@GiorgiaMeloni) June 9, 2024 × The second in the list was the opposition centre-left Democratic Party, which secured 23.7 per cent with another opposition group, the 5-Star Movement, with 10.5 per cent. The EU ballot showed that Meloni's ruling coalition, which comprised of parties that go on from the centre-right to the far right of the political scope, witnessed its support shoot up to over 46 per cent from less than 43 per cent in the year 2022. "I think this vote is certainly going to strengthen the government," said Licia Ronzulli, a senator with the ruling coalition Forza Italia party. Forza Italia, founded by the late Silvio Berlusconi, stood up fourth in the list as it secured 10 per cent. Also read: PM Modi dials Italian counterpart Meloni, thanks her for invite to G7 Summit Outreach Session Macron calls snap elections in France Meanwhile, French President Emmanuel Macron on Sunday (Jun 9) announced that he was dissolving the parliament after the far-right defeated his centrist alliance in EU polls. Macron called snap legislative elections on June 30 and July 7. Macron said that he can't pretend nothing has happened and that the outcome of the EU election is "not a good result for parties who defend Europe". He added the rise of nationalists was a danger for France and Europe. The National Rally (RN) party inflicted a heavy defeat on Macron's camp. It scored over double the number of votes of the head of state's centrist alliance, projections indicated. Projections published by several polling firms showed that the RN's list, led by Jordan Bardella, gained between 32.3 and 33 per cent of the vote compared with 14.8 to 15.2 per cent for Macron's alliance, which was led by his Renaissance party. "Far right parties... are progressing everywhere in the continent. It is a situation to which I cannot resign myself," Macron said. "I decided to give you the choice... Therefore I will dissolve the National Assembly tonight. "This decision is serious and heavy but it is an act of confidence. Confidence in you, dear compatriots, and in the capacity of the French people to make the best choice for itself and future generations." German Chancellor Olaf Scholz's coalition also suffered a defeat as all three parties in his government are trailing the conservatives and the far right, according to preliminary results. (With inputs from agencies)

Italy's PM Giorgia Meloni secures decisive victory in EU vote

China is looking to negotiate with the European union regarding trade tariffs on EVs. This comes amid a booming Chinese EV industry, eager to capture a share of the lucrative European market. Analysts estimate a 10% tariff increase could cost Chinese exporters an additional $1 billion annually.

Chinese executives hope for deal as EU tariff hike looms

The European Commission has postponed its decision on imposing tariffs on Chinese electric vehicles (EVs) until after the European Parliament elections on June 9, according to recent media reports. This delay aims to avoid the issue becoming a focal point during the election campaign.

The initial announcement of provisional tariffs was expected by June 5. These tariffs could have significant financial implications, potentially adding billions of dollars in costs for Chinese EV manufacturers. German magazine Spiegel first reported the postponement, indicating that the decision was strategically delayed to keep it from influencing the election discussions. The European Parliament elections are scheduled for June 6-9.

New deadline and technical issues

According to reports&nbsp;the new deadline for the decision is June 10, the day after the election results are released. While some believe the delay is linked to a last-minute technical issue with the documentation, a European Commission spokesperson stated that the new date has not been confirmed yet.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/britains-car-production-declines-amid-shift-to-evs-726907">Britain's car production declines amid shift to EVs</a>

Background of the investigation

The European Commission officially launched the anti-subsidy investigation on October 4. The investigation can last up to 13 months, with the Commission able to impose provisional anti-subsidy duties nine months into the probe. The aim is to determine whether Chinese EV manufacturers have received unfair subsidies that allow them to sell their vehicles at lower prices in the European market.

Insufficient data from Chinese manufacturers

The Commission has warned three Chinese EV manufacturers for not providing sufficient information required for the anti-subsidy investigation. This lack of cooperation from the companies has added complexity to the probe, according to sources familiar with the case.

Potential impact on Chinese EV market

Imposing tariffs on Chinese EVs could significantly impact the market dynamics. Chinese manufacturers have been making substantial inroads into the European market, capitalising on their competitive pricing. Tariffs would increase the cost of these vehicles, potentially reducing their attractiveness to European consumers and affecting sales.

Strategic delay to avoid electoral impact

The decision to delay the tariff announcement reflects the European Commission's strategic approach to sensitive economic issues during election periods. By postponing the announcement, the Commission aims to prevent the tariffs from becoming a contentious issue that could sway voters or polarise public opinion.

The future of EU-China trade relations

This delay also underscores the delicate balance in EU-China trade relations. While the EU seeks to protect its domestic industries from unfair competition, it must also navigate the complexities of international trade diplomacy. The outcome of this investigation and the subsequent decisions will likely influence future trade policies between the EU and China.

The postponement of the decision on Chinese EV tariffs until after the European Parliament elections highlights the interplay between economic policy and political strategy. The European Commission's move aims to keep the focus of the election campaign on other issues, while also allowing more time to address technical aspects of the investigation. The new deadline of June 10 will be closely watched by stakeholders on both sides, as it will determine the next steps in this significant trade matter. The decision will have far-reaching implications for the Chinese EV market in Europe and the broader EU-China trade relations.

(Inputs from Reuters)

The European Commission has postponed its decision on imposing tariffs on Chinese electric vehicles (EVs) until after the European Parliament elections on June 9, according to recent media reports.

The European Commission has postponed its decision on imposing tariffs on Chinese electric vehicles (EVs) until after the European Parliament elections on June 9, according to recent media reports. This delay aims to avoid the issue becoming a focal point during the election campaign. The initial announcement of provisional tariffs was expected by June 5. These tariffs could have significant financial implications, potentially adding billions of dollars in costs for Chinese EV manufacturers. German magazine Spiegel first reported the postponement, indicating that the decision was strategically delayed to keep it from influencing the election discussions. The European Parliament elections are scheduled for June 6-9. New deadline and technical issues According to reports the new deadline for the decision is June 10, the day after the election results are released. While some believe the delay is linked to a last-minute technical issue with the documentation, a European Commission spokesperson stated that the new date has not been confirmed yet. Also Read: Britain's car production declines amid shift to EVs Background of the investigation The European Commission officially launched the anti-subsidy investigation on October 4. The investigation can last up to 13 months, with the Commission able to impose provisional anti-subsidy duties nine months into the probe. The aim is to determine whether Chinese EV manufacturers have received unfair subsidies that allow them to sell their vehicles at lower prices in the European market. Insufficient data from Chinese manufacturers The Commission has warned three Chinese EV manufacturers for not providing sufficient information required for the anti-subsidy investigation. This lack of cooperation from the companies has added complexity to the probe, according to sources familiar with the case. Potential impact on Chinese EV market Imposing tariffs on Chinese EVs could significantly impact the market dynamics. Chinese manufacturers have been making substantial inroads into the European market, capitalising on their competitive pricing. Tariffs would increase the cost of these vehicles, potentially reducing their attractiveness to European consumers and affecting sales. Strategic delay to avoid electoral impact The decision to delay the tariff announcement reflects the European Commission's strategic approach to sensitive economic issues during election periods. By postponing the announcement, the Commission aims to prevent the tariffs from becoming a contentious issue that could sway voters or polarise public opinion. The future of EU-China trade relations This delay also underscores the delicate balance in EU-China trade relations. While the EU seeks to protect its domestic industries from unfair competition, it must also navigate the complexities of international trade diplomacy. The outcome of this investigation and the subsequent decisions will likely influence future trade policies between the EU and China. The postponement of the decision on Chinese EV tariffs until after the European Parliament elections highlights the interplay between economic policy and political strategy. The European Commission's move aims to keep the focus of the election campaign on other issues, while also allowing more time to address technical aspects of the investigation. The new deadline of June 10 will be closely watched by stakeholders on both sides, as it will determine the next steps in this significant trade matter. The decision will have far-reaching implications for the Chinese EV market in Europe and the broader EU-China trade relations. (Inputs from Reuters)

EU delays decision on Chinese EV tariffs amid election concerns

Lithuania voted in a presidential election dominated by security concerns. However, the main candidates all agreed that NATO and EU members should boost defence spending to counter the perceived threat from neighbouring Russia.

Lithuania re-elects President Gitanas Nauseda for the second term | Race To Power

In the face of Russia's war on Ukraine - Poland and Greece have called the European Union to create an Air Defence Shield to better protect the block.

EU Chief backs Poland and Greece's air defence shield plan

The post-Brexit border checks are expected to cost taxpayers in the United Kingdom at least $6 billion after repeated delays in setting new rules, according to a report released by the parliament’s spending watchdog, on Monday (May 20).&nbsp;

<h2>‘Significant issues’</h2>

The UK’s National Audit Office (NAO) report noted that the plans to bring in border checks on goods entering the country from the European Union faced “significant issues” including critical shortages of inspectors before their introduction last month.&nbsp;

Britain voted to leave the EU in 2016, but it was not until this year that the country set up the new rules given to untangle supply chains and erect customs borders.&nbsp;

The second phase of the UK’s new post-Brexit border controls for food imports began on April 30, when the government introduced physical checks for so-called “medium risk” animal products, plants and plant products.

Also Read |&nbsp;<a href="https://www.wionews.com/business-economy/sunaks-inflation-victory-faces-voter-doubts-723448">Sunak's inflation victory faces voter doubts</a>

The move in April followed the first phase of the UK’s so-called new Border Target Operating Model which required additional certification and came into force on January 31.&nbsp;

The third phase would require safety and security declarations and is slated for the end of October.&nbsp;

The government report estimates that it will spend at least $6 billion on the 13 most significant border-related programmes over their lifetimes out of which $3.3 billion had been spent by March last year.&nbsp;

The report found that the Cabinet Office’s confidence in the second phase had been rated as “amber” at the start of the year, which means that while the implementation was “feasible”, there were “significant issues that required management attention”.

In this case, it is the difficulty to recruit and train port health authority inspectors who would be responsible for conducting the checks.&nbsp;

<h2>Repeated delays</h2>

The British government has delayed the implementation of full control of the passage of goods across the border post-Brexit five times since the end of the EU exit transition period on December 31, 2020.&nbsp;

The delay in implementation, according to the report, has not only caused uncertainty for businesses and led to extra costs for government and ports, but also increased the biosecurity risk to the UK.&nbsp;

“The repeated delays in introducing import controls, and difficulties forecasting requirements, have resulted in government expenditure on infrastructure and staff that were ultimately not needed,” the NAO stated in its report.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/business-economy/us-regulators-may-cut-bank-capital-hikes-723443">US regulators may cut bank capital hikes</a>

It added, “Late announcements about policy and uncertainty about the implementation of controls have also reduced the ability of businesses and ports to prepare for changes.”&nbsp;

NAO also noted that while border processes, post-EU exit, have operated “relatively smoothly,” the businesses trading goods between the UK and the EU have faced additional costs and administrative burdens.&nbsp;

The watchdog also slammed the UK’s hopes to have the “world’s most effective border” by 2025 saying that the plan lacked “a clear timetable and an integrated cross-government delivery plan, with individual departments leading different aspects of implementation.”

The NAO also asked the government to take “a more realistic approach” to digital transformation.&nbsp;

(With inputs from agencies)

The post-Brexit border checks are expected to cost taxpayers in the United Kingdom at least $6 billion after repeated delays in setting new rules, according to a report released by the parliament’s spending watchdog, on Monday (May 20).

The post-Brexit border checks are expected to cost taxpayers in the United Kingdom at least $6 billion after repeated delays in setting new rules, according to a report released by the parliament’s spending watchdog, on Monday (May 20). ‘Significant issues’ The UK’s National Audit Office (NAO) report noted that the plans to bring in border checks on goods entering the country from the European Union faced “significant issues” including critical shortages of inspectors before their introduction last month. Britain voted to leave the EU in 2016, but it was not until this year that the country set up the new rules given to untangle supply chains and erect customs borders. The second phase of the UK’s new post-Brexit border controls for food imports began on April 30, when the government introduced physical checks for so-called “medium risk” animal products, plants and plant products. Also Read | Sunak's inflation victory faces voter doubts The move in April followed the first phase of the UK’s so-called new Border Target Operating Model which required additional certification and came into force on January 31. The third phase would require safety and security declarations and is slated for the end of October. The government report estimates that it will spend at least $6 billion on the 13 most significant border-related programmes over their lifetimes out of which $3.3 billion had been spent by March last year. The report found that the Cabinet Office’s confidence in the second phase had been rated as “amber” at the start of the year, which means that while the implementation was “feasible”, there were “significant issues that required management attention”. In this case, it is the difficulty to recruit and train port health authority inspectors who would be responsible for conducting the checks. Repeated delays The British government has delayed the implementation of full control of the passage of goods across the border post-Brexit five times since the end of the EU exit transition period on December 31, 2020. The delay in implementation, according to the report, has not only caused uncertainty for businesses and led to extra costs for government and ports, but also increased the biosecurity risk to the UK. “The repeated delays in introducing import controls, and difficulties forecasting requirements, have resulted in government expenditure on infrastructure and staff that were ultimately not needed,” the NAO stated in its report. Also Read | US regulators may cut bank capital hikes It added, “Late announcements about policy and uncertainty about the implementation of controls have also reduced the ability of businesses and ports to prepare for changes.” NAO also noted that while border processes, post-EU exit, have operated “relatively smoothly,” the businesses trading goods between the UK and the EU have faced additional costs and administrative burdens. The watchdog also slammed the UK’s hopes to have the “world’s most effective border” by 2025 saying that the plan lacked “a clear timetable and an integrated cross-government delivery plan, with individual departments leading different aspects of implementation.” The NAO also asked the government to take “a more realistic approach” to digital transformation. (With inputs from agencies)

Post-Brexit border arrangements expected to cost UK taxpayers $6 billion

China's commerce ministry on Sunday launched an anti-dumping probe into POM copolymers, a type of engineering plastic, imported from the European Union, United States, Japan and Taiwan. Watch in for more details!

China launches anti-dumping probe on EU, US, Japan & Taiwan

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