Media attention: China discusses raising tariffs on large-displacement fuel vehicles
2024-08-27
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Reference News Network reported on August 25 that according to the Hong Kong Economic Times website on August 23, on August 23, the head of the Finance Department of the Ministry of Commerce of China hosted a meeting to listen to the opinions and suggestions of the industry and experts and scholars on raising the import tariffs on large-displacement fuel vehicles. Representatives of relevant industry organizations, research institutions and automobile companies attended the meeting.
Earlier news pointed out that China is pushing forward the relevant procedures to increase the temporary import tariffs on large-displacement gasoline vehicles.
According to the China Passenger Car Association, the total value of passenger cars with a displacement of more than 2.5 liters exported from Europe to China has reached 18 billion US dollars per year, which is higher than the value of electric vehicles exported by China to Europe in 2023. If China raises the temporary tariff rate, German automakers such as BMW and Mercedes-Benz will be the first to be affected.
According to the report, Cui Fan, an international trade expert at the University of International Business and Economics, said that the industry has called on China to increase the import tariff on large-displacement cars to 25%. This tax rate is within China's commitment to the WTO and is fully in line with WTO rules.
According to a report on the German Handelsblatt website on August 23, China continues to target foreign automakers with regard to possible import tariffs.
China’s Ministry of Commerce announced that it had invited experts, industry organizations and industry representatives to hold a meeting to listen to their opinions and suggestions on raising import tariffs on large-displacement fuel vehicles. China’s Ministry of Commerce did not provide further information about the participants or the outcome of the meeting.
The report said that as early as May, the European Union Chamber of Commerce in China said that the Chinese government might impose tariffs on imported cars. At that time, according to "insiders", the affected vehicles might need to pay a 25% tariff.
The European Union Chamber of Commerce in China said at the time that the possible measure would "have an impact on European and American automakers." German automakers would also be significantly affected by the tariffs. (Compiled by Nie Litao)
Source: Cankaoxiaoxi.com
