• 2 hours ago
Trade frictions between the EU and China escalate as Beijing files a WTO lawsuit over the tariffs imposed on its electric cars.
Transcript
00:00China filed a lawsuit against the European Union before the World Trade Organization
00:07over the steep tariffs the bloc has slapped on its electric vehicles.
00:11Brussels argues the electric vehicles benefit from excessive subsidies to retail at artificially
00:17low prices in global markets.
00:20The new duties come on top of an existing 10% levy and are being collected as of Wednesday
00:25the 30th of October.
00:28Tariffs are a typical form of trade protectionism.
00:34They harm the cooperation between China and Europe,
00:40harm the interests of European consumers,
00:43harm the efforts of the EU on green transformation and global climate change.
00:51Designed by the European Commission to offset Beijing's financial aid
00:55and prevent EU firms from being pushed out of the lucrative electric vehicle sector,
00:59the trade measures will remain in place for five years.
01:17China has previously threatened retaliation against the EU's dairy, brandy and pork industries,
01:23moves that Brussels has denied as unwarranted.
01:26The Ministry stressed its willingness to continue negotiations with the Commission
01:30to achieve a solution as soon as possible that could reverse the tariffs.

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