EU raises tariffs on Chinese cars to as much as 38%

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  • The European Union on Wednesday said it would impose higher tariffs on Chinese electric vehicles.
  • In a statement, the EU said it is imposing a 38.1% tariff on battery electric vehicle (BEV) producers who did not cooperate with its investigation, and a lower 21% duty on carmakers in the Asian country who complied but have not been “sampled.”

The European Union on Wednesday said it would slap higher tariffs on Chinese electric vehicle imports, which it found benefit “heavily from unfair subsidies” and pose a “threat of economic injury” to EV producers in Europe.

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On a preliminary basis, the EU Commission, the executive arm of the EU, concluded that the battery electric vehicles value chain in China “benefits from unfair subsidisation” and pronounced that it is in the EU’s interest to impose “provisional countervailing duties” on BEV imports from China.

The additional tariffs are the result of an EU probe that began in October. The duties are currently provisional, but will be introduced from July 4 in the event of unfruitful talks with Chinese authorities to reach a resolution, the EU Commission said in a statement. Definitive measures will be placed within four months of the imposition of provisional duties.

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www.cnbc.com/2024/06/12/eu-announces-higher-tariffs-on-chinese-evs-as-trade-tensions-sharpen.html

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