Friday, September 29, 2023

In response to investigations into possible illegal practices, China accuses Europe of “protectionism”

China is angry about the investigation launched against the country by the European Union, as subsidies for the production of electric cars are disproportionate, allowing the country to maintain a sales price below the market price. Faced with what they see as unfair competition, Europe is considering the possibility of increasing tax rates for countries that export their cars from abroad. The eastern country calls these intentions protectionist.

China’s Director General for European Affairs, Wang Lutong, has now used his profile on the social network Twitter branded as “protectionist”. Europe’s maneuvers. In his words, he refers to the announced investigation, as it is assumed that the country is engaging in unfair competition.

According to the European Union, it would be China Subsidizing the production of electric buses This happens uncontrollably and excessively, resulting in their “zero emissions” models being priced below the rest of the market. They believe it is a potentially fraudulent practice, which is why they will be targeting them during the 13 months the investigation continues.

Europe is, among other things, proposing a solution to the problem Enforcing a higher export rate to countries outside the European alliance, so that the final price of Chinese electric vehicles is equalized and the price differences with European brands are reduced.

Wang Lutong strongly attacked this decision and has shared various information that, according to the Chinese official, explains why the price of its zero-emission cars is lower, which Wang believes has nothing to do with more excessive subsidies than those provided by various European countries.

“The investigation is a protectionist act that will seriously disrupt and distort the global automotive industry and supply chain and negatively impact China-EU economic and trade relations,” the official said.

Nation World News Desk
Nation World News Desk
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