EU plans to impose import tax on Chinese tires on the 14th

According to the "Wall Street Journal" reported on the 13th, in order to protect the interests of EU tire manufacturers, the EU will adjust the import tax imposed on Chinese tires, plans to impose a 22.3% import tax on China's exports of EU tires for a period of 5 years.
Since May of this year, the EU has imposed a temporary anti-dumping tariff of 20.6% on tires made in China. The European Commission’s documents show that the EU decided to adjust the import tax on Chinese tires, taking into account the impact of Chinese tires on the EU market. The "Wall Street Journal" reported that a special EU commission will vote on the local time on the 14th, whether to extend the tax time to five years, and raise the tax rate to 22.3%. The report quoted sources as saying that the committee is likely to pass the resolution, but ultimately requires the approval of the EU member states.

The auto industry inside European countries have produced two attitudes toward the proposal to increase China's tire import tax. Auto manufacturers have opposing views because they want to buy cheap tires from China, but tire manufacturers have welcomed this.

"Wall Street Journal" analysis, this move may trigger a new round of trade war between the EU and China. Car manufacturers are also worried that this move may affect the prospects of European cars exported to China. In recent years, China has surpassed Japan and the United States to become the world's largest auto market, and there is still room for rapid growth.

A Belgian automotive industry source said: "Without China, there is no future for automotive companies."

However, for China, the EU is the second largest market for tire exports in China. Each year, China's tire exports to the EU account for a large part of the total export volume. In recent years, due to the outbreak of the financial crisis, the EU has set a series of trade barriers, technical barriers and green barriers to China's export tires in order to protect the interests of its tire manufacturers, making the export of tires in China extremely difficult. The EU's plan to impose a 22.3% import tax on China's tires will further increase the difficulty of China's tire exports.