Yesterday (14th), the U.S. government announced additional tariffs on Chinese imports of electric vehicles and other goods. At the same time, China's electric electric vehicle Leapmotor will be sold in nine European countries, including Italy, starting in September this year.
The U.S. government has significantly increased tariffs on China, and China will defend its rights and interests
U.S. President Joe Biden announced yesterday that he would impose tariffs on $18 billion of products imported from China, involving electric vehicles, batteries, semiconductors, medical products, etc.
The worst affected are electric vehicles, which have been quadrupled to 100% from the previous 25% tariff. At the same time, tariffs on lithium batteries were raised from 7.5% to 25%; Tariffs on solar panels increased from 25% to 50%; Tariff rates on steel and aluminium increased from 7.5% or less to 25%; Tariffs on semiconductors will be increased from 25% to 50%. Medical consumables such as medical syringes and needles, rubber gloves, masks, and harbour cranes will also be subject to tariffs.
The Biden administration, which introduced the policy to protect American jobs ahead of the November election, also stressed that an electric car from Chinese electric car maker BYD costs less than $10,000.
But U.S. tariffs aren't just for electric vehicles. The U.S. fears that the Chinese government's subsidies for the clean energy sector will lead to "overcapacity," meaning that these products will enter the global market at low prices, leaving companies in other countries with little competitiveness.
Pixabay network
Chinese Foreign Ministry spokesman Wang Wenbin stressed today (15th) in response to a relevant question that the US side continues to politicize economic and trade issues and further increase tariffs on China, which is a mistake on top of a mistake, which will only significantly increase the cost of imported goods, make American companies and consumers bear more losses, and make American consumers pay a greater price.
Wang Wenbin said: "We urge the US side to earnestly abide by WTO rules and immediately lift the additional tariffs imposed on China. China will take all necessary measures to defend its rights and interests. ”
• The EU will assess the impact, and the Italian government wants to strengthen protective measures
The European Commission said it was ready to study the U.S. decision to impose tariffs on Chinese electric vehicle imports to understand the possible impact on the European market.
Italy's Minister of Economy and Finance, Giorgetti, has called for a strategic shift in the automotive sector, which will become the backbone of European competitiveness policy, and will require the EU to provide financial support through new fiscal measures in addition to the Recovery Fund (PNRR).
Giorjetti also said that Europe has not developed an effective industrial policy in the past 10 years, and the automotive industry is a symbol of this phenomenon.
For his part, the Minister of Italian Business and "Made in Italy", Mr. Urso, stressed the need for the EU to protect "Europe and its member states from unfair competition". He also said that he believes that the EU will inevitably "follow this path" in the future, in line with the United States' approach of "resisting Chinese hegemony".
European Times profile picture
• Leapmotor electric vehicles will arrive in Italy in September
At the same time, the "Chinese craze" for electric vehicles is heating up in Italy, Italian media said. Yesterday, multinational automotive group Stellantis and Chinese electric vehicle manufacturer Leapmotor Technology jointly established a joint venture called "Leapmotor International".
Relying on the global distribution channels of the Stellantis Group, Leapmotor plans to sell in nine European countries, including Italy, France, Germany, Spain, Portugal, the Netherlands, Belgium, Greece and Romania, from September this year.
Leapmotor website
Carlos Tavares, chief executive of Stellantis Group, said the partnership agreement is not a "Trojan horse" for China's automotive industry. He stressed that Leapmotor's electric models will compete with existing Chinese brands in major markets around the world.
Zhu Jiangming, Founder, Chairman and CEO of Leapmotor, said that the cooperation between Leapmotor and Stellantis Group has been very efficient, opening a new chapter in the globalization and integration of China's smart electric vehicle industry.
(Yi Yi Yi original, translation: Sasha, editor: Shu Liao, see the annotation for the picture source, please indicate Yi Yi: oushitalia for reprinting)