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China is considering increasing tariffs on imported cars from the United States and the European Union, a move that could escalate trade tensions between the countries. The China Chamber of Commerce to the EU (CCCEU) reported that insiders have informed them that Beijing may raise temporary tariff rates on imported cars equipped with large-displacement engines.
This potential action is seen as a retaliatory measure against recent tariffs imposed by the US and EU on Chinese electric vehicles. The tariff hikes could be as high as 25%, in line with World Trade Organization (WTO) rules, and would target imported gasoline sedans and sport utility vehicles with engines larger than 2.5 liters[1][2][3][4][5].
Citations:
[1] https://www.scmp.com/news/china/article/3263567/china-considering-car-tariffs-retaliate-against-us-and-eu-moves-trade-group-says
[2] https://www.morningstar.com/news/marketwatch/20240522235/china-mulls-higher-tariffs-on-european-and-us-made-cars-business-group-says
[3] https://www.bloomberg.com/tosv2.html?url=L25ld3MvYXJ0aWNsZXMvMjAyNC0wNS0yMS9jaGluYS1tYXktcmFpc2UtdGFyaWZmcy1vbi1zb21lLXVzLWV1LWNhcnMtbG9iYnktZ3JvdXAtc2F5cw%3D%3D&uuid=bcbb5b31-1819-11ef-be54-0195886beeb8
[4] https://www.investopedia.com/china-may-impose-tariffs-on-car-imports-business-group-says-8652209
[5] https://europe.autonews.com/automakers/china-signals-possible-25-tariffs-eu-us-cars-amid-ev-probe
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