EU greenlights tariffs of up to 45.3% on Chinese EVs
The European Union has decided to increase tariffs of up to 45.3% on Chinese-manufactured electric vehicles (EVs) after concluding an anti-subsidy investigation aimed at countering what it claims are unfair Chinese subsidies. These tariffs, ranging from 7.8% for Tesla to 35.3% for China’s SAIC, add to the EU’s standard 10% car import duty, intensifying trade tensions with China. The extra tariffs were formally approved and published in the EU Official Journal yesterday, meaning they will take effect today. While EU countries like Germany are concerned about the potential economic impact on their industries, France has supported the move to level the competitive playing field. China has criticized the tariffs as protectionist, launching its own probes into EU imports and challenging the measures at the WTO.