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China Takes Legal Action Against EU Over Electric Vehicle Tariff Hike

China has launched a legal dispute against the European Union (EU) at the World Trade Organization (WTO) in response to the EU’s decision to raise import tariffs on Chinese electric vehicles (EVs). The case comes on the heels of an EU investigation that concluded Chinese carmakers benefit from state subsidies, giving them an unfair edge in the European market.

Key Details:

  1. WTO Complaint: China’s filing marks its second WTO challenge over higher tariffs, with the complaint aiming to address the EU’s determination that Chinese EV manufacturers benefit from unfair government support.
  2. Impact on Chinese Car Makers: The new EU tariffs range from 17% for BYD, 18.8% for Geely (Volvo’s parent company), to a significant 35.3% for SAIC Motor Corp, making it one of the most heavily affected companies.
  3. WTO Dispute Timeline: Under WTO dispute settlement rules, China and the EU have 60 days to negotiate a resolution. If unresolved, the case may proceed to a WTO panel ruling. However, the WTO’s highest appellate body remains inactive due to a shortage of judges, potentially complicating the resolution process.

The heightened tariffs, which took effect on November 1, reflect growing trade friction between Brussels and Beijing. EU officials argue that China’s subsidies and access to inexpensive raw materials have granted Chinese EV companies excessive leverage over European competitors. In response, Brussels is exploring solutions, such as adjusting price commitments, to address these market imbalances while upholding WTO principles.

Negotiations between the EU and Chinese officials are expected to intensify in the coming weeks, with an EU delegation likely to travel to China to pursue a compromise. Both sides aim to foster fair market conditions while respecting WTO guidelines.

Cyprus Sees Rise In Auctions Of Homes Priced Below €350,000

A confidential report from the Central Bank of Cyprus (CBC) reveals a striking upward trend in the auction of primary residences, particularly those valued below €350,000, marking a significant financial shift in the local property market.

Overview Of Auction Trends

The lifting of a moratorium on the sale of properties valued up to €350,000 in early 2024 led to a noticeable rise in auctions. Data obtained by Stockwatch shows a steady increase in the number of primary residences entering the auction process following the policy change. In the third quarter of 2025, most of the 98 homes auctioned fell within this lower-value category.

Data Reveals Sharp Increases

Q3 2025 figures show that 93 of the 98 auctioned homes were valued below €350,000, while only five exceeded that threshold. This represents a sharp increase compared with earlier quarters in 2024, when only five to six primary residences were auctioned. The data also shows that 77 of the lower-value properties were repurchased by mortgage lenders after the first auction, indicating growing financial pressure on borrowers.

Loan Repossession And Legal Implications

Under the Immovable Property (Transfer and Mortgage) Law, the auction process typically allows four to six months between initial notice and sale, although legal objections and restructuring efforts can delay proceedings. During Q3 2025, authorities issued 731 auction-related notices to borrowers with properties valued below €350,000, compared with 81 notices for higher-value homes.

Legislative Efforts And Future Outlook

Legislative measures aimed at protecting borrowers remain pending. A law passed at the end of 2023 to establish a specialized court for foreclosure cases has not yet been implemented. Recent changes expanding the powers of the Financial Commissioner allow more borrowers to seek out-of-court restructuring, although decisions remain non-binding. Around 30 legislative proposals are currently under discussion, with parliamentary debate expected as elections approach.

The rise in lower-value property auctions highlights increasing pressure on households and the wider property market. Policymakers now face growing calls to balance financial stability with stronger protections for vulnerable borrowers.

Aretilaw firm
eCredo
The Future Forbes Realty Global Properties
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