-
Abdul El-Sayed declares victory in Michigan Senate contest
-
Kuwait marks key events and anniversaries from national history
-
Democrats Seize Congress in Midterm Sweep, Ending Trump Era Control
-
Democrats capture US Congress in sweeping midterm victory
-
Trump congratulates Democrats and signals willingness to cooperate
-
Manchester United rallies past Roma as PSG dominates in Champions League
-
Enel to Install Solar Panels at Niterói Waste Management Facility
-
Qatar prime minister advances mediation through diplomatic calls
-
Qatar sees tentative opening for renewed regional diplomacy
-
Greenland parliament approves security agreement with United States
-
Qatar Tourism joins Pacific Asia Travel Association at London travel market
-
Qatar envoy meets incoming UN General Assembly president
-
Abdul El-Sayed Wins Michigan Senate Seat in Historic Election
-
Trump Signals Willingness to Work With Democrats After Midterm Defeat
-
Qatar media bodies discuss support for humanitarian initiatives
-
Ispire Technology Inc. Schedules Fiscal First Quarter 2027 Earnings Conference Call
-
Dolphin to Host Third Quarter 2026 Earnings Conference Call on Nov 10, 2026
-
Wipeboard Family Launches Free AI Chore Planner That Builds Age-Appropriate Chore Plans in Seconds
-
Medical Care Technologies Inc. (OTCID:MDCE) Moves $250,000 Software Agreement Into Active Development
-
InstaLILY Research Finds One in Six Leaders Across the Supply Chain Faced an AI Incident Involving Supplier or Customer Data
-
PAVS Subsidiary 2Lab3 Launches AniMano+, an AI-Native Digital Entertainment Streaming Platform, on the Apple App Store
-
LightPath Technologies to Host First Quarter Fiscal 2027 Earnings Call on November 10 at 5:00 p.m. Eastern Time
-
Ondas Secures Multi-Million-Dollar Counter-UAS Contracts in Europe and Asia, Accelerating Global Expansion in Aerial Defense
-
QualSights Secures $5 Million Financing and Appoints Prasanna Pitale CEO to Accelerate Company Growth
-
Sidney Resources Secures Federal Approval for Historic Gold and Silver Ore Mobilization
-
Adcore to Publish Third Quarter 2026 Results on November 10, 2026
-
IRS Postpones Texas Tax Deadlines to February 1, 2027 After July Storms - Clear Start Tax Explains What a Disaster Postponement Does Not Pause
-
Dateline and US Government Seek Ninth Circuit Stay
-
Wedgewood Weddings Expands to Maryland With Grey Rock Mansion
-
Worksport Signs Term Sheet to Acquire U.S. Manufactured Truck Bed Accessory Business & Accompanying IP Portfolio
-
Jumia to Announce Third Quarter 2026 Results on November 18, 2026
-
First Canadian Graphite Inc. Closes Flow-Through Financing
-
Apollo Wellness Centers Releases Primer Video
-
RSI Welcomes The Orange County Comptroller's Office as Its Newest Government Premier Partner
-
InterContinental Hotels Group PLC Announces Transaction in Own Shares - November 04
-
Facet Welcomes Three-Time PGA Tour Winner Ben Griffin as Newest Brand Partner
-
SMX Announces Effective Date of Reverse Stock Split
-
ELEKTROS Advances Review of Potential U.S. Lithium Opportunity as Critical Minerals Gain Strategic Momentum
-
Midterm 2026 Healthcare Ballot Results and Impacts Across 13 States: Black Book Research Follow-Up
-
Moderna Advances Investigational Bundibugyo Ebolavirus Vaccine Toward Phase 2/3 Study
-
Pitches and Keynote Speakers Are Confirmed for Blue Magic Netherlands on November 17
-
ELEKTROS Highlights Northern New York Lithium Potential Amid Growing Focus on Domestic Battery Supply
-
ELEKTROS Brings Lithium Opportunity and Patented EV Charging Technology Into Focus for Investors
-
Moderna Announces Oral Presentation of mRNA-2808 Clinical Data at 2026 American Society of Hematology Annual Meeting
-
GoWish Hits 20 Million Registered Users Worldwide and Surpasses 100 Million Wishes Created in the US This Year
-
Cosmos Health's Amazon UK Business Surpasses $2 Million in TTM Sales, Up 90%, with a 23% Net Profit Margin; Expects Sales to Grow Approximately 72% to $3.9 Million Over the Next Twelve Months
-
Xenetic Biosciences Announces Oral Presentation at 68th ASH Annual Meeting Highlighting DNase I as a Potential Strategy to Overcome CAR T-Cell Resistance
-
Chervon Announces Partnership with Wrestlers in Business Network to Expand Its AMP Talent Program
-
LiveOne (NASDAQ:LVO) Extinguishes $8.5 Million in JGB Debt, Reducing Balance from $17.5 Million to $9 Million
-
Chilean Cobalt Corp. Signs Definitive Option Agreement to Consolidate Substantially All of the Past-Producing La Cobaltera Project Area
EU plans 36% tariff on Chinese EVs, lower for Tesla
The European Commission said Tuesday it plans to slap five-year import duties of up to 36 percent on Chinese electric cars, unless Beijing can offer an alternative solution to the damaging trade row over state subsidies.
It also said Tesla cars that are made in China would face a lower duty of nine percent.
Brussels last month slapped Chinese EVs with hefty provisional tariffs -- coming on top of current duties of 10 percent -- after an anti-subsidy probe found they were unfairly undermining European rivals.
On Tuesday the commission released a draft plan to make those tariffs definitive, subject to input from interested parties by end August, and to approval by EU member states by end October at the latest.
The definitive rates faced by major Chinese manufacturers would be 17 percent for market major BYD, tweaked downward from 17.4, 19.3 percent for Geely, down from 19.9, and 36.3 percent for SAIC, down from 37.6.
Other producers in China that cooperated with Brussels will face a tariff of 21.3 percent -- revised slightly upwards from 20.8 -- while those that did not would be subject to the maximum 36.3 percent duty.
US billionaire Elon Musk's Tesla -- which manufactures in China -- had asked Brussels for its own duty rate, set at nine percent, after the commission deemed that it benefited from fewer Chinese subsidies than domestic manufacturers.
Beijing vociferously opposes the EU tariffs, and has filed an appeal with the World Trade Organization -- of which Brussels has taken note while voicing confidence its measures are WTO-compatible.
"The EU is open to reach a solution that would be an alternative solution to the imposition of duties that would be effective and WTO compatible," a commission official told reporters.
"We consider that it's very much up to China to come up with alternatives," they said.
Concerning the provisional duties companies have faced since July 5, provided in the form of bank guarantees, the commission said it had determined it did not have legal grounds to collect the funds, which will be released once definitive measures take effect.
- Balancing act -
China and the EU have butted heads in recent years on a range of issues relating to trade, technology and national security.
The EU has launched a raft of probes targeting Chinese subsidies for solar panels, wind turbines and trains, while Beijing has begun its own investigations into imported European brandy and pork.
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.
China's emergence as an EV powerhouse stems in part from a targeted industrial strategy, with Beijing pouring vast state funds into domestic firms as well as research and development.
The approach has given Chinese firms a critical edge in the race to provide cheaper, more efficient EVs over leading European automakers, which have not always enjoyed such state largesse.
According to the Atlantic Council, Chinese sales of EVs abroad rose 70 percent in 2023, reaching $34.1 billion.
Almost 40 percent went to the European Union, the largest recipient of Chinese EVs.
P.Smith--AT