The European Union (EU) and the United States have called on the World Trade Organisation to pressure China to open up its $US19bn automotive components market, according to Reuters.
Go deeper with GlobalData
They say that Beijing’s tariff policies hinder access to the market by overseas component manufacturers and they have accused China of unfairly helping its exporters. The US says that China deliberately holds the value its yuan currency, reported Reuters.
The first measure would be for the parties to participate in consultations on automotive component tariff rules. If these failed a WTO dispute panel would rule on the issue.
The dispute concerns the fact that China considers parts a “whole vehicle” if they account for 60% or more of the value of the final vehicle and therefore charges a higher tariff on them.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
