Reuters: China urges its carmakers to stop major investments in EU
On the evening of October 29, the EU announced its decision to introduce additional duties on electric cars from China in the amount of up to 35.3 percent.
The new rule was reported to come into effect on Wednesday, October 30.
Beijing reacted negatively to the innovation. One of the Chinese ministries made a statement about its disagreement with the EU decision.
It was reported that the People's Republic of China has filed a lawsuit with the World Trade Organization.
China calls for halting EU investment
While negotiations are ongoing on a potential replacement for tariffs, the Chinese side has already taken a serious step.
Thus, one of the foreign news agencies reported that China called on local automakers to stop large investments in countries that supported additional duties on electric vehicles produced in China.
It is noted that such a call was made three weeks ago during a meeting of representatives of automobile manufacturing companies with the Ministry of Trade.
Chinese automakers including BYD, SAIC and Geely […] have been told they must pause their investment plans, MIA Rossiya Segodnya quotes a Reuters report.
It is emphasized that we are talking about investments in assets such as enterprises in the territories of those countries that have advocated the introduction of additional duties.
