Would you like to receive notifications on latest updates of the following headlines?

China Autos Group 'Strongly Dissatisfied' with EU Anti-subsidy Tariffs

POSTED ON July 7, 2024 •   Business      BY Abiodun Saheed Omodara
Flags of European Union and China are pictured during the China-EU summit at the Great Hall of the People in Beijing, China, July 12, 2016. l Credit: Reuters

The China Association of Automobile Manufacturers (CAAM) is "strongly dissatisfied" with anti-subsidy tariffs proposed by the European Union, the industry group said in a statement on Saturday.

Manufacturers had cooperated with the European Commission's investigation into Chinese subsidies, but the inquiry had ignored the facts and preselected results, CAAM said in a post on the Chinese messaging app WeChat, Reuters reported.

The EU imposed tariffs of up to 37.6% on imports of electric vehicles made in China from Friday, with a four-month window during which the tariffs are provisional with intensive talks expected between the two sides.

"CAAM deeply regrets this and holds it firmly unacceptable," it said.

The provisional duties of between 17.4% and 37.6% without backdating are designed to prevent what European Commission President Ursula von der Leyen said is a threatened flood of cheap Chinese electric vehicles built with state subsidies.

The EU anti-subsidy investigation has nearly four months to run.

READ ALSO
Osun advocate railway service extension to enhance economic productivity
BY Benedicta Bassey December 26, 2024 0

OSUN STATE, Nigeria —The Osun State government has called on the Nigerian Railway Corporation...

READ ALSO
Website Hack: NBS budgets N35m for cybersecurity training
BY Abiodun Saheed Omodara December 26, 2024 0

The National Bureau of Statistics has earmarked N35m in its 2025 budget proposal for “Capacity...

READ ALSO
CBN disqualifies 41.65m Access Holdings shares
BY Abiodun Saheed Omodara December 26, 2024 0

The Central Bank of Nigeria has disqualified 41.65 million shares worth N822.60m in Access Holdings...

READ ALSO
W’Bank removes loan fees for vulnerable nations
BY Abiodun Saheed Omodara December 26, 2024 0

The World Bank has announced the removal of several loan fees to make borrowing more affordable for...

READ ALSO
2025 Budget : Gombe set 10% for debt servicing
BY Abiodun Saheed Omodara December 25, 2024 0

The Gombe State Commissioner for Finance and Economic Development, Gambo Magaji, on Tuesday, reveale...

READ ALSO
LASG shut Coca-Cola, two others over water usage standards
BY Abiodun Saheed Omodara December 25, 2024 0

The Lagos State Government, through its Water Regulatory Commission, has sealed three companies for...

READ ALSO
No regret removing fuel subsidy- Tinubu
BY Abiodun Saheed Omodara December 24, 2024 0

ABUJA, Nigeria - President Bola Tinubu, on Monday, said he had no regret removing fuel subsidy. The...

READ ALSO
FG lifts ban on mining to boost Zamfara’s IGR
BY Abiodun Saheed Omodara December 23, 2024 0

ZAMFARA, Nigeria - The Minister of State for Defence, Bello Matawalle, announced that the President...

OUR CHANNELS:

Osun advocate railway service extension to enhance economic productivity
BY Benedicta Bassey December 27, 2024 0

OSUN STATE, Nigeria —The Osun State government has called on the Nigerian Railway Corporation...


38 dead in Azerbaijan Airlines plane crash on Christmas Day celebration
BY Benedicta Bassey December 26, 2024 0

No fewer than thirty-eight people reported lost their lives following the Azerbaijan Airlines plane...


Taiwanese Politician Ko Wen-je indicted for corruption faces jail term
BY Benedicta Bassey December 26, 2024 0

TAIPEI  —  Ko Wen-je, a former Taipei mayor and presidential contender, was indicted...


Valencia employs West Brom’s manager after sacking Ruben Baraja
BY Abiodun Saheed Omodara December 26, 2024 0

Spanish football club giant, Valencia, has appointed the English championship team, West Bromwich Al...


Website Hack: NBS budgets N35m for cybersecurity training
BY Abiodun Saheed Omodara December 26, 2024 0

The National Bureau of Statistics has earmarked N35m in its 2025 budget proposal for “Capacity...


Tinubu, Ogun leaders champion tech innovation
BY Abiodun Saheed Omodara December 26, 2024 0

The City Boy Movement, Ogun State Chapter, awarded N14m to winners of its technology grant initiativ...


CBN disqualifies 41.65m Access Holdings shares
BY Abiodun Saheed Omodara December 26, 2024 0

The Central Bank of Nigeria has disqualified 41.65 million shares worth N822.60m in Access Holdings...


W’Bank removes loan fees for vulnerable nations
BY Abiodun Saheed Omodara December 26, 2024 0

The World Bank has announced the removal of several loan fees to make borrowing more affordable for...


2025 Budget : Gombe set 10% for debt servicing
BY Abiodun Saheed Omodara December 25, 2024 0

The Gombe State Commissioner for Finance and Economic Development, Gambo Magaji, on Tuesday, reveale...


Tinubu's media chat reveals APC's insensitivity to Nigerians – PDP
BY Abiodun Saheed Omodara December 25, 2024 0

The People’s Democratic Party (PDP), has reacted to President Bola Tinubu’s maiden media...


More Articles

Load more...

Menu