> Xiaomi CEO Lei Jun said the standard version of the SU7 will sell for the equivalent of $30,408 in China, a price he acknowledged would mean the company is losing money on each sale
Isn't dumping banned by the WTO?
Isn't dumping banned by the WTO?
“Ford is losing money on each EV it sells” https://www.npr.org/2023/08/11/1193083777/ford-electric-vehi...
> Dumping is, in general, a situation of international price discrimination, where the price of a product when sold in the importing country is less than the price of that product in the market of the exporting country.
-- https://www.wto.org/english/tratop_e/adp_e/adp_info_e.htm#:~....
This is due to the US blocking appointments to the Appellate Body. Basically the US does not want WTO rules to be binding, and want to be able to invoke national security to override any WTO rule without having this permit any kind of trade measures in response.
Edit: I don't think this is necessarily terrible. The MFN rule is a problem for countries that form close associations in trade blocks, like the EU, so its destruction is probably good.
Europe, the slow hare to US's rabbit, finally woke up in 2023, but just barely. They kicked off an inquiry into tariffs on Chinese EV vehicles in October 2023, and would take up to a year to finish [3]. These tariffs looks to be retroactive, as they have started requiring Chinese EV vehicles to be registered [4]. Europe, albeit slow witted, probably isn't going to willingly allow China to kill its own car industry, especially since China is actively helping Russia in attacking Europe.
[1] https://www.vox.com/climate/2024/3/4/24087919/biden-tariff-c...
[2] https://fortune.com/2024/03/16/trump-100-tariff-for-cars-mad...
[3] https://www.reuters.com/world/europe/eu-launches-anti-subsid...
[4] https://finance.yahoo.com/news/eu-moves-slap-retroactive-tar...