China calls on France to help resolve EV trade dispute

!_Anchor07_! China calls on France to help resolve EV trade dispute: China has called on France to encourage the European Commission to find a mutually acceptable solution for both the European and Chinese EV sectors, Reuters reports. Meanwhile, France stated that the bloc will not compromise on important issues as it seeks to eliminate a tariff on brandy.

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What they said: The EU is not looking to escalate the situation, but simultaneously “will not yield to pressure on the essential points,” French junior trade minister Sophie Primas told Chinese Commerce Minister Wang Wentao during a meeting in Shanghai. China is urging France to adopt “an active role” in persuading the EU to be more lenient on Chinese EVs.

Background: The EU has increased tariffs on Chinese-built electric vehicles (EVs) by up to 45.3% following the conclusion of its anti-subsidy probe. On top of the EU’s standard 10% car import duty, the bloc will impose extra tariffs ranging from 7.8% for Tesla to 35.3% for China’s SAIC.