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The European Union has clearly touched a sensitive point by launching an investigation into Chinese subsidies for the country’s motor vehicles. Since then, the authorities of the Middle Kingdom have continued to proclaim their dissatisfaction with this decision.
The latest example comes directly from Chinese Vice Premier He Lifeng. The latter thus reaffirmed his “strong dissatisfaction” facing this investigation. The latter also raised concerns during a press conference in Beijing:
“China once again expresses its great concern and deep dissatisfaction with the European Union’s plan to launch an anti-subsidy investigation into Chinese electric vehicles.”
The European Union wants to relaunch dialogue
On the side of the European Union, the time has come to calm things down. Valdis Dombrovskis, European Commissioner for Trade, also present at this press conference, wishes to relaunch the dialogue with his Chinese counterparts:
“We agreed to resume regular exchanges to discuss macroeconomic issues, to relaunch the economic and financial dialogue and the macroeconomic dialogue will be important in this regard. We look forward to these dialogues in the coming months.”
It remains to be seen how this will unfold and whether this will be possible, taking into account what will emerge from the investigation carried out by the European Union. Remember that the authorities of the latter believe that China would subsidize too much the models of the country’s brands. This would allow prices to be lowered and would constitute unfair competition with the European Union.
The Chinese, for their part, believe that their prices are competitive, because they are simply receiving the fruits of their past investments. Still, customs duties could explode for these vehicles in the future.
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To sum up
Chinese Deputy Prime Minister He Lifeng once again expresses his “strong dissatisfaction” with the European Union’s investigation into automobile subsidies. On the EU side, we want to recreate dialogue in order to continue moving forward.
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