00:00 "Unfairly subsidised Chinese electric vehicles are a threat to Europe's car industry.
00:06 That's the provisional conclusion made by the European Union as part of its ongoing
00:10 probe.
00:11 In a move that could trigger a trade war, the bloc has threatened to slap new tariffs
00:15 on Chinese electric vehicles unless Beijing provides new evidence to challenge it.
00:21 The Commission has also predisclosed today the level of provisional countervailing duties
00:30 it would impose on imports of battery electric vehicles from China."
00:35 The duties on battery electric vehicles would come on top of the existing 10% import tariffs,
00:41 with the levels split by three brands sampled.
00:44 The world's largest EV maker, BYD, would have tariffs applied at around 17%, Geely at 20%
00:51 and Syke at around 38%.
00:54 This top rate will also apply to other Chinese BEV producers who didn't cooperate with the
00:58 probe, whilst those that did will face 21%, as well as Western brands that produce EVs
01:04 in China.
01:05 Beijing blasted back at the new duties, saying it would take all necessary measures to safeguard
01:10 its interests.
01:11 "Protectionism has no future and open cooperation is the right way forward.
01:16 We urge the EU to honour its commitment to supporting free trade and opposing protectionism
01:21 and work with China to uphold the overall China-EU economic and trade cooperation."
01:27 The duties will provisionally apply from next month and definitively from November unless
01:32 a majority of EU member states vote against it.
01:35 Germany, Hungary and Sweden have expressed reservations.
01:38 The major trade partner with Beijing, Berlin is concerned about its exports to China.
