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EU Votes to Impose 45% Tariffs on Chinese Electric Vehicles Despite Germany's Opposition

Oct 4, 2024, 09:01 AM

The European Union has voted to impose tariffs as high as 45% on electric vehicles imported from China, despite significant opposition from Germany and other stakeholders. The decision, which will affect the import of battery electric vehicles, aims to protect the European auto industry from what the EU perceives as unfair competition. Germany, which voted against the tariffs, has expressed concerns about potential trade tensions with China. German automakers, including BMW, Volkswagen, and Mercedes, have been vocal against the tariffs, arguing that they could harm the European automotive industry and lead to a trade war. The tariffs will be in effect for five years. The Chinese Commerce Ministry has strongly opposed the EU's decision, labeling it as protectionist and a violation of WTO rules, and has urged the EU to act prudently to avoid escalating trade frictions. Negotiations between the EU and China are expected to continue as both sides seek a resolution. In the vote, 10 countries were in favor, 5 against, and 12 abstained.