EU will increase tariffs imposed on Chinese aluminum alloy tires

According to foreign media reports, the EU said on Monday that it will increase tariffs on aluminum alloy tires exported to China for a period of five years. The EU said that raising tariffs is an expedient measure to defend the interests of European car wheel manufacturers. This move will help other European car manufacturers such as Germany, France and Italy to compete better with those countries with low import costs.

The European Commission stated that the export prices of Chinese automotive aluminum wheels are too low and it is a dumping act. This will impact the relevant industries and manufacturers in the EU. The EU said that it will increase the import tariffs for Chinese aluminum wheels to 22.3%, which is higher than the 20.6% temporary anti-dumping duty imposed by the EU in May this year. The target of EU tariff collection includes YHI Manufacturing (Shanghai) Co., Ltd. and Zhejiang Wanfeng Auto Wheel Co. Ltd (Wanfeng). The EU believes that these two companies The selling price of corporate tires is lower than the cost, and it is understood that the current car companies that apply the tires produced by the two companies are the world’s number one luxury car manufacturer BMW Motors and the French automobile manufacturer Renault SA.

European manufacturers of aluminum alloy automobile tires include the German company Borbet Solingen GmbH, Francaise de Roues and the Italian company Speedline Srl. The EU stated that it is the dumping actions of the above-mentioned Chinese companies that have greatly damaged the interests of European tire companies. It is understood that the tariff after the increase will be officially implemented from November 11 this year.

The latest statistics released show that in the past 12 months, the current share of Chinese export companies in the aluminum alloy tire market in Europe has doubled, reaching 12.4%.

The European Union stated that the anti-dumping duty imposed on European aluminum alloy tire manufacturers is significantly higher than the negative effect caused by the increase in costs caused by rising prices to European automakers. It is reported that aluminum alloy tires account for 1% of the cost of automobile production. After the increase in tariffs, the costs faced by the European car companies rose by up to 0.22%.

The EU said: “If we consider that the disadvantaged situation of these European companies will change after the tariffs are collected, even if the tariff increase leads to a 0.22% increase in costs, the negative impact will be limited. The data show that the EU imports from China. The aluminum alloy tires account for 10% of the total exports of aluminum alloy tires in China.

Despite the increase in tariffs, the European Union still said that the European Wheel Manufacturers Association, which represents the interests of many wheel manufacturers, pointed out that the anti-dumping duties imposed on the wheels of Chinese cars are not high enough to withstand the competition from their Chinese counterparts.

Some foreign media believe that, to a certain extent, increasing the import tariffs on wheels has shown that the EU has a sense of crisis. Now that China has become unwilling to produce low-tech, low-value-added products, it is making great inroads into high-tech industries. This area has always been regarded as the only advantage that the EU can compete with Asian countries.