A European Commission investigation into Chinese electric vehicles believed to have benefited from state subsidies will have a "negative" impact on economic and trade ties, China's commerce ministry warned on Thursday.
BEIJING, Sept 14 (Reuters) - A European Commission investigation into Chinese electric vehicles believed to have benefited from state subsidies will have a “negative” impact on economic and trade ties, China’s commerce ministry warned on Thursday.
The investigation launched on Wednesday will determine if punitive tariffs are warranted to protect EU producers from what European Commission President Ursula von der Leyen described as a “flood” of cheaper Chinese EV imports.
“China believes the investigative measures proposed by the European Union are in reality to protect its own industry in the name of ‘fair competition’,” the commerce ministry said in a statement.
“It is a naked protectionist act that will seriously disrupt and distort the global automotive industry and supply chain, including the EU, and will have a negative impact on China-EU economic and trade relations.”
The probe, initiated by the European Commission and not from any industry complaint, will further irritate a tense relationship with China partly strained by trade and investment imbalances.
In 2022, China’s exports to the EU rose 8.6% to $562 billion, according to Chinese customs data.
The original article contains 208 words, the summary contains 180 words. Saved 13%. I’m a bot and I’m open source!
This is the best summary I could come up with:
BEIJING, Sept 14 (Reuters) - A European Commission investigation into Chinese electric vehicles believed to have benefited from state subsidies will have a “negative” impact on economic and trade ties, China’s commerce ministry warned on Thursday.
The investigation launched on Wednesday will determine if punitive tariffs are warranted to protect EU producers from what European Commission President Ursula von der Leyen described as a “flood” of cheaper Chinese EV imports.
“China believes the investigative measures proposed by the European Union are in reality to protect its own industry in the name of ‘fair competition’,” the commerce ministry said in a statement.
“It is a naked protectionist act that will seriously disrupt and distort the global automotive industry and supply chain, including the EU, and will have a negative impact on China-EU economic and trade relations.”
The probe, initiated by the European Commission and not from any industry complaint, will further irritate a tense relationship with China partly strained by trade and investment imbalances.
In 2022, China’s exports to the EU rose 8.6% to $562 billion, according to Chinese customs data.
The original article contains 208 words, the summary contains 180 words. Saved 13%. I’m a bot and I’m open source!