The European Union unleashed one of its most powerful economic tools on China, imposing tariffs on electric vehicles in a move that increases the risk of retaliatory measures and backfiring on domestic consumers and companies https://t.co/ejJDqFTC54 pic.twitter.com/EGMkfcHdL2
— Bloomberg (@business) October 4, 2024
Previously: Germany to Vote Against EU Tariffs on Chinese EVs, Spain Wants Compromise with China
The EU is run by globalists who are also huge believers in the stupid global warming hoax.
Also, they are doing a trade war with China to stop vehicles they claim will alter the weather.
The European Union will press ahead with hefty tariffs on China-made electric vehicles, the EU executive said on Friday, even after the bloc’s largest economy Germany rejected them, exposing a rift over its biggest trade row with Beijing in a decade.The proposed duties on EVs built in China of up to 45% would cost carmakers billions of extra dollars to bring cars into the bloc and are set to be imposed from next month for five years.
The Commission, which oversees the bloc’s trade policy, has said they would counter what it sees as unfair Chinese subsidies after a year-long anti-subsidy investigation, but it also said on Friday it would continue talks with Beijing.
A possible compromise could be to set minimum sales prices.
That means they are forcing you to buy these EVs, but they’re going to charge you extra money because… because of alleged subsidies? What does that mean?
In a pivotal vote on Friday, 10 EU members backed tariffs and five voted against, with 12 abstentions, EU sources said.It would have taken opposition from a qualified majority of 15 EU members, representing 65% of the EU population, to block the proposal. Reuters reported on Wednesday that the measure was likely to pass with France, Italy and Poland in favour.
The region’s biggest economy and major car producer, Germany, voted against the proposal, sources said on Friday.
The EU executive said it had obtained “the necessary support” to adopt the tariffs, although it would continue talks with Beijing to find an alternative solution.
Friday’s vote reflected divisions over EU commercial relations with China. Some nations want a firm line against what they see as excessive state subsidies and are mindful of the EU’s failure to impose tariffs on Chinese solar panels a decade ago. China has a share of over 90% of the EU photovoltaic market.Other countries want to encourage Chinese investment or fear a tit-for-tat trade war.
China’s Commerce Ministry expressed strong opposition to planned EU tariffs, calling them “unfair, non-compliant and unreasonable”, violating World Trade Organization rules, although it made no mention of any counter measures. It has already launched a WTO challenge.
The “subsidies” argument would only make sense if European companies had an equivalent product that was being undermined, and even then, it would go totally against the “free trade” doctrines that neoliberalism is based on.
What about Tesla subsidies?
What about the fact that every Western country gives de facto subsidies to all major companies?
Further, what is the on-balance cost-benefit to the EU economy? Isn’t protecting the EU economy the purpose of whining about “subsidies”?
This is a farce. This is no different than the “dumping” claim (which actually makes even less sense). It’s a placeholder argument, just so some argument appears to exist to explain why the EU is launching a militant trade war against China.
What is the real reasoning for this trade war? It’s not good for the economies of European countries. I suppose if they pulled back on their global warming horseshit, it wouldn’t really matter, but they’re not pulling back on that, they’re just demanding people drive inferior, more expensive EVs.
Are they doing this because of that science fiction “news article” in Haaretz about harvesting the organs of living people with no anesthetic?
Based on the “eternal support for the Jews principle,” maybe we have to believe that ridiculous nonsense and go on a warpath?
It’s either that, or the Europeans just do whatever the hell the Americans tell them to do, to the point where there isn’t really much reason for European governments to exist at all.
Q3 2024 sales:
BYD: 1,129,256 🔥
Tesla: 462,890 🤣Despite 100% tariffs and all manners of protectionist obstacles in western nations, BYD is now selling as many vehicles in one month as $TSLA sells in an entire quarter!
BYD vs Tesla 🤡👇 pic.twitter.com/Q7msctY7BS
— Facts Chaser 🌎 🤦🏻♂️ (@Factschaser) October 4, 2024
