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illuminem summarizes for you the essential news of the day. Read the full piece on POLITICO or enjoy below:
🗞️ Driving the news: The European Commission has rejected China’s proposals to avoid duties on electric vehicles (EVs) imported into the EU • China offered to set minimum prices or impose volume caps, but the Commission determined these measures wouldn’t offset the harm caused by Chinese subsidies
• This decision follows the EU’s investigation into Beijing’s widespread EV subsidy program
🔭 The context: Chinese subsidies support the entire EV supply chain, from lithium refining to shipping cars, putting European manufacturers at a disadvantage
• The EU is preparing to impose duties ranging from 7.8% to 35.3% on Chinese EV imports
• China will make a final attempt to negotiate with the EU before a key vote on the duties on September 25
🌍 Why it matters for the planet: These tariffs aim to level the playing field in the rapidly growing EV market, but they may also lead to tensions between two of the world’s largest economies • The dispute could impact the global transition to electric mobility
⏭️ What's next: EU countries will vote on September 25 to finalize the five-year duties. China’s Minister of Commerce will meet with the EU’s trade chief ahead of the vote, in hopes of reaching a last-minute resolution
💬 One quote: “The Commission has concluded that none of the offers met these requirements,” – Olof Gill, EU Trade spokesperson
📈 One stat: The proposed duties on Chinese EV imports range from 7.8% to 35.3%
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