China car firms seek 25% tax on EU - state media [Yahoo! Finance]
PORSCHE AUTOMBL UNSP/ADR (POAHY)
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Source: Yahoo! Finance
The demand was reportedly made at a closed-door meeting organised by China's Ministry of Commerce, which was also attended by representatives of European car firms. The measures would target cars from the EU with large petrol-driven engines. Last week, the EU threatened Chinese electric vehicle (EV) makers with tariffs of up to 38% from 4 July. The meeting in Beijing was attended by four Chinese and six European car companies, according to an article published by a social media account affiliated with state broadcaster CCTV. German car making giant Volkswagen has confirmed to the BBC that it was present at the meeting but declined to comment on what was discussed. Porsche declined to comment, while BMW did not immediately reply when contacted by the BBC. "China's car companies called on the government to adopt firm countermeasures against the EU," the report said. "It is suggested that within the limits allowed by Word Trade Organization rules, a higher provisional tari
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