European Union announces higher tariffs of up to 38% on Chinese EVs
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.
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.
On a preliminary basis, the EU Commission, the executive arm of the E.U., concluded that the battery electric vehicles value chain in China “benefits from unfair subsidisation” and pronounced that it is in the E.U.’s interest to impose “provisional countervailing duties” on BEV imports from China.
The additional tariffs are the result of an E.U. 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 E.U. Commission said in a statement. Definitive measures will be placed within four months of the imposition of provisional duties.
“The influx of subsidised Chinese imports at artificially low prices therefore presents a threat of clearly foreseeable and imminent injury to E.U. industry,” the Commission noted.
Valdis Dombrovskis, the E.U. commissioner for trade, told CNBC on Wednesday that the investigation was based on “facts and evidence” and added that engagement with Chinese authorities and stakeholders about potential solutions was ongoing.
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