Key vote on EU tariffs for Chinese EVs sparks trade contention

EU governments face pivotal vote on Chinese EV tariffs

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European Union members face a pivotal vote on Friday on whether to impose tariffs of up to 45% on imports of Chinese-made electric vehicles in the bloc’s highest profile trade case, which risks retaliation from Beijing.

The EU’s proposal can be blocked if a qualified majority of 15 EU members, representing 65% of the EU population, vote against it. But that is a high hurdle.

Reuters reported on Wednesday that France, Greece, Italy and Poland would vote in favour, enough to avert a blocking majority against tariffs.

The region’s top economy and major car producer, Germany, will vote against the introduction of tariffs, – abstained before.

German carmakers, for which China represents almost a third of their sales, have been particularly vocal against tariffs.

Volkswagen said they were “the wrong approach”.

NOTE: As Arno points out here – Sweden are abstaining as they appear to be getting a special deal for Volvo

This article was written by Ryan Paisey at www.forexlive.com.