File Photo: VCG

China's broad business community has expressed firm opposition to the move by the European Union to impose countervailing tariffs on Chinese electric vehicles (EVs) and urged the immediate withdrawal of the provisional tariffs announced on Wednesday.

The EU's decision to impose a provisional duty on Chinese EVs should be promptly revoked, the China Council for the Promotion of International Trade (CCPIT) said in a statement on Thursday.

The EU announced on Wednesday that it will put in place a provisional duty on Chinese EVs, ranging from 17.4 percent to 38.1 percent. The decision comes despite objections from some EU members including Germany, Sweden and Hungary.

In a response, the CCPIT called on the EU to revisit its decision on levying unilateral tariffs on Chinese EVs, warning that Chinese industry will wield legal weapons to defend their legitimate rights and interests based on WTO rules.

On behalf of the Chinese business community, the CCPIT urged the EU to abide by WTO rules and immediately cancel the provisional tariffs.

The CCPIT stated that the EU's targeting of Chinese EV industry with punitive tariffs is unfair, which violates internationally recognized trade rules.

The CCPIT said that the EU's levying high tariffs on Chinese EVs is a typical case of double standard and trade protectionism. Also, the EU's substantial subsidies for European automakers clearly violate market economy principles and international trade rules.

The CCPIT stated that the Chinese EV industry is deeply integrated into the global supply chain, which drives technological innovation, making a significant contribution to the development of the global EV industry. It also played a crucial role in promoting energy efficiency, reducing carbon emissions, and advancing sustainable growth worldwide.

The prospects for cooperation in the EV industry between China and Europe are broad. The industries in China and Europe should strengthen cooperation, resolve disputes and conflicts through negotiation and dialogue, and achieve green development goals through integrated development, it added.

Following EU's tariffs announcement, China's Ministry of Commerce urged the EU to immediately correct its wrong practices and properly address economic and trade frictions through dialogue and consultation, and vowed to take all necessary measures to firmly defend the legitimate rights and interests of Chinese enterprises.

China's Foreign Ministry spokesperson Lin Jian warned that the EU's anti-subsidy investigation into Chinese EVs violates the principles of the market economy and international trade rules, and will harm the EU's interests too.

Several European carmakers, including Volkswagen, BMW and Mercedes-Benz Group also expressed their opposition, saying the protectionist move would only harm the European auto industry.

Global Times