The EU declares that the deadline for Chinese EV price offers has passed

The Chinese electric vehicle manufacturers had until Monday, the European Commission announced, to commit to prices in order to avoid taxes. Once their offers were all turned down, they would not be able to amend them.

The Commission noted that a number of EV exporters have filed price undertakings, which are commitments made by exporters to uphold minimum import prices in order to offset subsidies. The Commission is looking into allegations of anti-subsidy involving EVs manufactured in China.

According to a spokesman for the Commission, these offers may only be submitted until August 24. After that date, no new pricing commitments could be submitted in compliance with the protocols for this type of inquiry. The EU executive said it was still open to looking for a solution, as long as it removed the identified subsidies and met fully with WTO rules. The representative clarified that since all of the price commitments from Chinese automakers came by the August 24 deadline, there was no opportunity for re-submissions in the event that the proposals were rejected.

Chinese automakers had weeks before the deadline to commit to pricing, allowing time for a serious discussion if they had acted sooner. The Commission recommends final tariffs of up to 35.3% on Chinese-made electric vehicles, in addition to the EU's 10% import charge.

On September 25, the 27 EU countries will vote on final tariff proposals. If by the end of October, 15 countries or 65% of the EU population don't vote against them, the levies will take effect. Some countries may fear Chinese retaliation on dairy, pork, and brandy, but the required majority is difficult to achieve.

This week, Chinese Commerce Minister Wang Wentao is visiting Europe to discuss the EU's anti-subsidy lawsuit. On Thursday, he will meet with EU Trade Commissioner Valdis Dombrovskis. Wang's first destination, Italy, declared its support for the planned tariffs.