BEIJING: Beijing said Friday it had filed an appeal with the World Trade Organization over the European Union’s imposition of additional tariffs on imports of electric vehicles from China.
In July, the EU slapped extra provisional duties of up to 38 per cent on Chinese EVs after its executive arm concluded in an investigation that they were unfairly undermining European rivals.
“On August 9, China appealed to the World Trade Organization’s dispute settlement mechanism over the EU’s temporary anti-subsidy measures on EVs,” a spokesperson for the country’s commerce ministry said in a statement.
The ministry said the appeal aimed to “safeguard the development rights and interests of the electric vehicle industry and cooperation over the global green transformation”.“The EU’s preliminary ruling lacks a factual and legal basis, seriously violates WTO rules, and undermines the overall situation of global cooperation in addressing climate change,” it said.
“We urge the EU to immediately correct its wrong practices and jointly maintain the stability of China-EU economic and trade cooperation as well as EV industrial and supply chains.”China and the EU have butted heads in recent years on a range of issues relating to trade, technology, human rights and national security.But Brussels faces a delicate balancing act as it tries to defend Europe’s crucial auto industry and pivot towards green growth while also averting a showdown with Beijing.
KARACHI: Pakistan’s current account returned to a surplus in August after three straight months of deficits, thanks...
LAHORE: The flow of seed cotton at the ginning stage has decreased to about one-third of last year’s volume,...
KARACHI: The government rejected all bids for the three-, six-, and 12-month Treasury bills at an auction on...
KARACHI: IT exports surged to $298 million in August, marking a 27 per cent increase from the previous year, according...
KARACHI: The central bank expects the banking sector to maintain high exposure to the government in the second half of...
KARACHI: Pakistan received gross inflows of $8.581 billion under the Roshan Digital Account (RDA) as of August 2024,...
KARACHI: The rupee closed marginally stronger against the dollar in the interbank market on Wednesday.The rupee ended...
KARACHI: Stocks surged by 970 points on Wednesday amid buying in blue-chip stocks across the board, as economic...