The European Commission opened an investigation on Thursday regarding electric bikes imported from China. The news come after European manufacturers complained that artificially low prices made it difficult for them to compete.
China is the EU’s biggest supplier of products, but the Europe union sees some Chinese exports as illegally lowering prices, in part because of government subsidies. Brussels charges high tariffs on various Chinese products. Last year, China exported more than 430,000 electric bikes to the European Union, amid expectations that this year the figure will rise to 800,000. Where 70% of all electric bikes imported within Europe are Chinese-made bicycles. The European electric bicycle market is estimated at $2.19 billion.
On the other hand, the European Commission expressed concerns about some measures in the tax bill plan approved by the US Congress, noting that it will consider all possible measures if the plan entered into action as currently drafted. A spokeswoman said in a statement that the Commission takes note of the tax reform approved last Wednesday, pointing out that the text will now be studied in detail. While expressing satisfaction with the withdrawal of a clause included in the reform following extensive contacts with the US authorities, the Commission noted that two clause still raise concerns for the Europeans. These European concerns address cuts in overseas profits and an aim to avoid corrosion the US corporate tax base, which appears to be discriminatory.
The European ministers have warned that the inclusion of certain clause may be contrary to double taxation treaties and may involve risks of major deviations in the course of international trade.
Mexico and the European Union are seeking to finalize a free trade agreement by early next year, after resolving outstanding issues, negotiators from both sides said after talks in Brussels on Monday. In September, European Commission President Jean-Claude Juncker expressed his hope for a final version of trade talks with Mexico this year. “We are very close to reaching our goals,” the Mexican economy minister said. The talks are being held in tandem with the renegotiation of a free trade agreement between Mexico, the United States and Canada
It is noteworthy that the European Union is one of the most important trading partners of Mexico, with the volume of exports and imports between them being about 62 billion dollars annually.
Be the first to comment