The EU approves tax exemption for a Chinese electric vehicle, marking the first instance of a soft landing for anti-subsidy duties.

The European Commission announced its approval on an exemption from import countervailing duties on a pure electric vehicle manufactured in China, provided that a minimum price and annual quota are set. This is the first instance of a “soft landing” for the EU to impose countervailing duties on Chinese electric vehicles since the consensus reached between the EU and China in January. China’s Ministry of Commerce responded on the 12 February, stating that “the automotive industries of China and the EU are deeply integrated and mutually beneficial.”

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