EU's new tariffs on Chinese EVs set to kick in on Jul 4
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- čas přidán 3. 07. 2024
- Trade tensions are simmering between China and the European Union as the bloc's provisional duties of 37.6 per cent on Chinese-made electric vehicles (EVs) come into effect tomorrow. CNA's Olivia Siong has more on the latest reactions from Beijing, while Will Denselow reports from Brussels on possible repercussions that the European companies fear.
Those Tariffs are NOTHING Compared to Taxes on ALL cars in Singapore; Import Tax, ARF, Registration, COE Alone is ~$100k
😂And still a cheap car, no girl has interest.
At least it is arbitrary to all cars, no bias here.
Unable to compete, then impose tariff and conservative measures
Can you get a brain before commenting? The Chinese Government HEAVILY SUBSIDIZING the Chinese companies gives it unfair to companies in the West. Now the West is getting smart and subsidizing their companies like the CHIP ACT in the US. Suddenly the Chinese tech companies cannot compete in this field
I can see marathons runner-ups telling the officials to remove the winners for next year so that they have a better chance of winning. Go competition, improvement, and innovation!
What’s the difference between “overcapacity” and export capacity?
The country doing it.
Overproduction is a nonsense statement. Every country overproduces.
if they did not over produce, how can they export any goods.
time for China to impose tariffs on EU electrical and electronic equipment. 21% of China imports. mineral fuels, and distillation products. 20% Machinery 7%, precious metals, jewellery, and luxury products 5%
the majority of imports are the above.
foods and wines are just a minor import less than 2%.
And that would trigger a trade war. If you are producing so much of a product that you cannot use, then you're overproducing. China has a habit of flooding a market with a given product that bottoms the price and destroys a market. Steel is a good example of this. In the early 2000s China overproduced steel and then flooded global markets with it and many countries had to apply tariffs to it to protect their markets.
If you are a worker in an EU carmaker company, you won't be making such naïve statement. Every country government has to be answerable to their constituents or citizens' livelihoods etc. I guess you are a Singaporean and free trade definitely benefits us because our domestic production is limited. Its a different matter for other larger economies. Put yourself in EU shoes like how you embrace China.
@@joetran8798... Do you understand what is Economies of Scale? A country like China with 1.4 billion hardworking, intelligent people has the advantages of Economies of Scale in a Capitalist Free Market Economy! No country produces just enough for their own needs. As an example a small country like Singapore can never overproduce no matter how hard and willing it tries!
@@jamesl2590 that is what negotiations is for. EU does not speak for German industry. Germany gave up their sovereignty by joining the EU. These unelected politicians in Brussels decide for you.
@@jamesl2590 Germany with only 98 millions people can export 3.1M vehicles, while china with 1.45 Billion people only exporting 4M vehicles. Who has the overcapacity?
If EU is being taxed like china then the effect is only 98 million people, but with china it will effect 1.45 Billions of people. Whose shoes should you put yourself in?
I thought it's a climate emergency? Why are you making EVs more expensive?
CCP:"I still monopolised Clothing, Household appliances, electronics, toys (lego, dolls, many more), Mobile & console games, machineries, and many more!"😂
western democrats :" our market is open and free"
CCP: All our products breaks a day after warranty expires 😁
@@jreyfortich... Ahhh ... that's the exact attitude China is happy to see the Europeans have duh!
@@jreyfortich Democrats: We have a rocket leak! There's a leak in our spacesuit! Our astronauts can't return to Earth! Republican: No! Our rocket proved to be perfect when we landed on the moon in Hollywood!
@@jreyfortichBefore the warranty. 😅 And MUCH before.
😂 China is already ahead with their new factories in Hungary, EU can’t tariff Chinese EVs made within the EU.
China can focus on African markets.
😂😂😂
Africa barely have charging stations
Africa has a lot of Solar Power duh!
😂😂😂😂 how much are you wumaos being paid to talk this nonsense
🤣🤣🤣🤣🤣
just have to wonder.. how many charging stations in Africa?
Tariff is a form of "weakness".....Africans are driving modern EVs while Europeans buying more expensive one. The standard of living reversing....
Not a fact
Europe and the US have existing auto industries that need to be protected. Remind me what cars Africa makes...
Countries do this with their domestic industries. It doesn't matter if it's vehicles, garments, or agriculture.
This is trade 101. You are either purposefully being obtuse for political purposes or are truly ignorant.
@@Fish_Ventura Ethiopia is set to ban ICE car imports and only allow EVs. You can google this yourself. Ethiopia is no longer beholden to price fluctuations in the oil market and ends up with much less pollution to boot. Win-win!
Yea head to Africa, they really need cheap unwanted chinese made products. Good for the people with few means but bad for African small business.
Of course. 😂😂😂😂😂 EU will risque 12 MILLION of jobs in it's car industry cause of China. No thanks. African standard? 😅😅😅😅😅😅 Mediterranean sea is full of African standard. Give me break. Africa doesn't even shine at night sky cause there's no electricity anywhere. 😂😂😂😂 Legendary Africans standard of living. Ahahahahahahha 😂😂😂😂😂 Like elections in China. It doesn't exist.
Reciprocate: Impose 100% on EU products.
Europe just countered China's illegal subsidies with tariff. And you think China could "reciprocate"?
So why aren't they doing it bot? Oh, not so easy after all, huh?
Yes PUT TARIFSS TO NVIDIA chips 🤣🤣😍😍🤣
This years' Independence Day is truly memorable and can only happen through orchestration.
We should be celebrating affordable "green" vehicles that are better in general for people and the environment. Apply tariffs on everything that political officers own and reduce their salaries to minimum wage. Then we can sit back and observe their decision making and behavior. The people we elect to make decisions for us are out of touch with their own constituents.
A magnificent opportunity for Africans/Russians/Hindus to buy Chinese cars!
Thank you Europe, you free up production capacities for others.
Why would India buy Chinese cars? They hate the Chinese
It will be great. If you buy one that is fully charged, you will get about 250 miles on it before it becomes a brick because there are no charging stations.
@@PeterSedessesalty eh
@@PeterSedesse And the Russian, Chinese and Hindu oligarchs will be happy to make you pay dearly for Kw/h, welcome to the brics abusers.
We got 12 MILLION jobs to protect in the EU's car industry. There's nothing to protect in vasals of China, like Russia, India, Africa. Places that are heavily underdeveloped. And ask China if they are happy about markets of Russia, India and Africa, instead of the market of the EU. Btw EU got bigger GDP than Russia, India and Africa combined. Russia, India and Africa COMBINED are not even HALF of the of EU's GDP. 😊😊😊😊😅😅😅😅😅😂😂😂
The problem is not China's overcapacity. It's the West's undercapacity; that's the huge problem.
Doesn’t financial sector’s monopolies gives unfair advantage to Americans? Shouldn’t china Russian Asian and Africans decouple themselves from unfair practices? 🤔
The good days of the European people are coming, thanks to the European governments
VW group which owns Porsche, Bently, Lamborghini, Bugatti, Audi, Skoda and others make 55% of their profit from the Chinese market, remember every 3rd new car sold on the planet is in China. The Chinese cars in 2024 of which there are 300 plus car brands make amazing cars, my personal daily driver which I have had for 5years now has had 0 problems and still solid yet my Mercedes E53 AMG that I purchased 1 months earlier in the past 5years has been back for repairs 7 times already even though my Chinese MG HS has done 163,000kms and my Mercedes only has 26,000kms.
People who still buy mercedes are stuck with old stereotypes that german cars are good and reliable. These days they are the worst purchases one could buy. A money drain
4 of July is Independence Day. Tariffs is Taxes. Easy Money for the Government. The Consumer Pays the Price. We Pay more Taxes. Not so the Chinese. 😂😂😂 Chinese Government serves its People well. ❤.👍🌹🌹🌹
Why CNA has never talked about overcapacity of Japanese and German car sales in the world for decades? This also includes America export of cokes, fast food, apparels, credit cards, jet and etc in the overcapacities of US?
green dragon lets go
Who would love to pay triple for similar car😂
It’s insane. It shows the EU makers aren’t willing to allow foreign competition apart from certain allies in Asia like Japan and South Korea
What a monopoly on the market .. 🤔
What monopoly? Tesla is the number 1 EV in the world. No? 🤞
China has to impose tariffs on all EU products and stop cooperation on climate cha nge , otherwise more bullying and containment policy is on the cards
Get a brain ... It's not containment policy. It's the policy of jobs in Europe. Imagine if the European was HEAVILY SUBSIDIZING their companies then these companies export to China wiping out local Chinese job..
How do you think China Government would react? Please get a brain before commenting and everything is about Chinese inferiority complex.
What does "kick in" means?. Using boots to effect something?.
"Electric trade war"
💸 💰 🤑 💲
Government subsidies for clean energy. Tarrifs for Chinese Evs. That's Beauracracy for ya.
World need to warning this Chinese over making products
Just admit your country incompetent against China.
Learn some basics of economics before saying things like the flow who don’t have a brain
hahaha, while cost of living is rising and people can't afford anything, your government is worried about "overcapacity". think for yourselves.
@@aj2228 Actually based on your point, I am happy for the Chinese. They are enjoying deflation now.
So what about green energy and climate control? I’m so confused… so no one is cared for pollution right cause the topic is “out of date” or “unprofitable”? Huh?!
EU didn't want to ruin 12 MILLION jobs in it's car industry. Who would have thought? Really rude from the EU. They should have just let it happen and not acted at all. 😅😅😅😅 Like they did with the media tech many years ago. Nokia, Siemens, Philips, Alcatel, etc. When EU's Nokia used to be number 1 name in the whole world by far. Then they just sold everything to USA and Hong Kong and China. And now EU depends on good will of the FOREIGN companies regarding the data and privacy of IT'S OWN CITIZENS. Brilliant. Naivity of the EU already costed it a lot.
China shouldn't buy cognac, wine, luxury goods from Prada, LV etc. Increase tariff on European cars.
Should have been 100%
China should impose 50% tariffs on all EU products.
EU n US 👍👍👍
Looking forward to seeing the retaliatory trade measure from the CCP😅
Of course China subsidizes most of their key industries because it operates under a socialist system, where technically the means of production and distribution is managed and controlled by their society as a whole. Our capitalist system in the west is also heavily subsidized by the exploitation of labour and public tax dollars. If both systems are exploitive, then we should not be afraid to compete openly without constantly crying foul and putting up barriers.
Well... Chinese loves the US Israel EU, so there's nothing to worry
Antonio Costa def bribed
Let us Africans and Latin Americans buy Chinese cars
Is EU acting in the interests of the European car makers?
Nope, but the car makers have their own interests and not for their own country
need to follow papa U$ policy😅
EU leader....an asset of the empire
@@RationalQuestions Govt preventing local businesses from making profits. Way to go.
China loves and trusts Europe and vice versa, the world is talking too much and can we see the actions 😂😂😂😂😂😂😂😂😂😂
Tariffs Wars
EU s move is kinda Jerk move.
German cars and EU pork will be hit hurt
eu against China but China can not down, again growth rise China more interest we all support with China new global economic new world order, kick out old dollars old economy, now we want new currency new global economics
Dreams are free, enjoy yours
@@Fish_Ventura... It's already happening. Why do you think the West is crying a river over China Re-Arising as Lee Kuan Yew called it?
EU should really ban these low quality, unsafe Chinese plastic cars
every country should ban these junk chinese EVs
@@rcdizoChina should ban all EU farm products and destroy the EU farm industry.
You can go buy some other plastic car from Detroit. 😂😂😂
@@cb250nighthawk3buy MEXICAN CARS very good quality ...
name one china product that is decent.
Covid-19?
DJI drones they have over 70% marketshare on drones if they were bad they could never be the best selling drone on the market
Greatwall power supplies (corsairs, asus rebrand) they're the best in the market.
EVs. apparently they are so good, the EU needs to put tarrifs on them
Dji Action cam and Insta360 cam simply is just the best.
👍🙂
😂😂😂😂 Who cares
I'm surprised and shocked by Indonesian to increase tariffs.
Only in ASEAN has this leadership?
4 categories only, vietnam was included as well
Don’t be surprised,, “Chinese fishing vessels and illegal fishing” this is payback
@@leecheesoon3346 really Vietnam too?
Indonesia impose tariffs on cheap textiles and clothing, like Tshirt. don't get too excited.
Don't be shocked, more countries will follow. Indonesia is not dumb. All these fake accounts are just laughable.
boycott chinese product
You are welcomed to try. It's impossible.
What did you use to post this comment? 😂
The future of Chinese 🇨🇳 electric cars in Europe is uncertain due to *overcapacity,* a kind word for dumping.
Most Chinese cars "exported" to Europe are still *parking at European ports without a buyer,* turning the ports into huge long-term parking lots, a similar scene to the Bike Share program in China.
anyone concerned chinese labor 896 a week, work 70 hours week.
It’s absolutely anti-humanitarian
Everyone is learning. China has a habit of flooding a market with a given product, often heavily subsidized, then gets tariffs imposed against them. Then once those markets are unprofitable to them, they take that consignment and further flood other markets. So to protect themselves, everyone else needs to raise tariffs. If the CCP is so concerned about the tariffs, why not take away some of the subsidies? Or would that make the EVs unprofitable to the point that manufacturers wouldn't want to make them?
CCP isnt concerned about the tariffs, it doesnt affect them one bit as it will be paid by eu consumers and chinese EV will still be able to be priced lower. Rather it was a trust that theyve built with german automakers as the so called subsidies actually benefited VW, AMG, BMW etc as well. Remember, 55% of VW revenue is from china sales alone. This overcapacity and subsidies are bullshit, western countries subsidizes their semi conductor sectors too and currently monopolizes the market. They should just call it a tradewar because china is overtaking them in global influence, no need fancy words.
haha white boy. with all the inflation and unaffordability crisis, you should be more worried about undercapacity than overcapacity. in western media, it seems every day there is a new invented word that tells you who the hate. I studied economics for 6 years. "overcapacity" is not an economic term. it's invented.
@@bingbing3464 Germany has a habit of relying one source to the point where one of these days they will get in trouble. Oil/gas and Russia... now this. Who knows what's next for them. The car companies will definitely feel the pain if there are tariffs. That said, others are seeing how the CCP reacts and how they like to use economic coercion. The various african governments either think they can tip toe through the issues (unlikely) or have types of political governance that skew towards authoritarian tendencies for the most part. Unfortunately that leads them vulnerable to exploitation (eg BNR but likely also for the new western version as well) to certain governments of both persuasion. If they're smart, they'd partner with moderate middle powers and build up from there..
On a per car basis, the Chinese subsidies are trivial. BYD, the top Chinese EV car maker had subsidies of $3.7B USD over 4 years and they sell 3M cars a year. So the subsidies amount to about $300 a car. Just a rounding error when talking about car prices.
If the EU thinks subsidies are an issue, there's nothing stopping them from subsidizing their cars just like they already heavily subsidize their agricultural industry. In fact, I'm pretty sure existing EU auto subsidies are already well over $300 USD per car.
@@celanian8188 EU didn't tariff BYD as much as some of the others. Roughly half of what the others got.
EU doing what it need to survive. without the automotive market, Germany, france, italy economy is half dead.
EU use to be doing good sales in China and china selling alot to EU. But that has since reverse with EU selling less to China and China speeding exports to EU. It not balance trade. thus tarriffs. EU is agreeing with Trump.
Jai Hind. We Indian origins are National Security honchos in the Collective West led by the Unipolar Hegemon.
Makes Great Rickshaws n Motorcycles
It's even simpler than that, just don't buy this Chinese crap.
Fantastic move by EU. Chinese BEVs can’t sell in China due to the horrific spontaneous fires and premature battery failures plaguing these vehicles
Do your homework..
But every Tesla also have them😂
@@liongjiahwong5478 RMB0.50 complements of CCP
@@xxoo-lp6vc agreed, specifically for those Made in China Teslas
Poor Westerns, hopeless!