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A Trade War Between China and the EU is on the Brink. On October 8, China's Ministry of Commerce announced temporary anti-dumping measures on EU brandy, requiring importers of the relevant products to pay a deposit of up to 39% to Chinese customs.
This percentage conveniently matches the tariffs imposed by the EU on Chinese electric vehicles. Last week, the European Commission approved a 35% anti-subsidy tariff on imported Chinese EVs, adding to the existing 10% import tax. This is expected to take effect in November and will last for five years.
How did this conflict begin? What kind of impact will it have?
On May 14, the U.S. government announced it would impose a punitive tariff of 100%-four times the current rate-on Chinese electric vehicles (EVs). Additionally, tariffs on a total of $18 billion worth of imports, including semiconductors, solar panels, steel, and aluminum, would be raised.
Does this move by the U.S. violate free trade principles? Why has China remained relatively quiet in response to these increased tariffs? Where exactly do Chinese electric vehicles stand on the global stage?"
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