Chinese EVs face 25% EU tariff

June 12, 2024
Chinese EVs face 25% EU tariff

The Financial Times in London is reporting that the EU is to impose tariffs of up to 25% on imported Chinese electric vehicles starting in July. 

The European Union believes that Chinese EV makers receive excessive subsidies from the Chinese government and this makes it difficult for European car makers to compete. The move will affect Chinese manufacturers such as BYD and Geely, as well Tesla, who make cars in China for import into European countries. 

The new tariffs will come less than a month after US administrators imposed a 100% tariff on Chinese EVs. 

Chinese manufacturers are yet to respond to these reports, however, many are already at the advanced planning stages of setting up manufacturing bases in the EU. There are also concerns that the move could lead to a trade war with China. 

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