Tariff

BELGRADE - Serbian Minister of Internal and External Trade Tomislav Momirovic said on Monday a FTA signed with Egypt last weekend was a great opportunity for Serbian farmers to break into a market of more than 106 million people.

The European Commission is reportedly gearing up to impose tariffs on inexpensive goods originating from China, as reported by the Financial Times, citing insider sources.

Under current regulations, items valued below 150 euros can enter the EU from non-EU countries duty-free. Goods exceeding this threshold are subject to varying tariff rates depending on their category.

The European Commission on Thursday published the findings of its nine-month investigation into China's electric vehicle market, giving insight into how it calculated tariffs and the evidence it collected to support its highest profile trade case.

Consumer demand is expected to shift toward used cars as a new safety regulation and tariffs on Chinese will push up prices of brand-new cars.

The General Safety Regulations 2 (GSR2), which will come into force in early July, will add more costs to some cars according to representatives of the auto industry.

China urges Türkiye to immediately revoke what it describes as "the discriminatory tariffs" imposed on Chinese-made passenger vehicles, the Commerce Ministry has said.

On June 8, the Turkish government announced a 40 percent additional tariff on imported fuel and hybrid passenger vehicles from China to take effect on July 7.

The European Commission decision to impose, possibly from July, additional duties on Chinese electric vehicles that will reach up to 38.1% creates new conditions for the Chinese automobile industry that is seeking to increase its share in the Greek market as well.

The European Union has warned it would slap additional tariffs of up to 38 percent on Chinese electric car imports from next month after an anti-subsidy probe, a move that risks provoking a bitter trade war.

Brussels angered Beijing by launching the investigation last year in a bid to defend European manufacturers in the face of a surge of cheaper Chinese imports.

Türkiye has imposed an additional 40 percent tariff on all Chinese-made vehicles in a bid to narrow the current account deficit and protect domestic automakers.

The custom duties will apply to Chinese-made internal combustion engines and hybrid cars, the Trade Ministry has said.

The Bulgarian Energy and Water Regulatory Commission (EWRC) anticipates an average electricity price increase of 1.34% starting July 1, while the price of hot water and heating is expected to decrease by an average of 8.44%. Final decisions will be made at the end of the month, with an open meeting scheduled for next week to discuss these forecasts.

These European Parliament elections are the most important in recent decades. Europe will face very difficult decisions that will determine whether it will come of age geopolitically and economically or not. Whether Donald Trump is elected in the United States or not, the alarm has been ringing for Europe for a long time.