Official announcement from the European Commission or credible news sources

EU to Announce Multibillion-Euro Tariffs Up to 25% on Chinese EVs

Jun 12, 2024, 06:03 AM

The European Commission is set to announce provisional tariffs on Chinese electric vehicles (EVs) this week, citing excessive subsidies as the reason. The new tariffs, expected to be multibillion-euro, will range from 21% for compliant companies to 38.1% for non-compliant ones, with an overall increase up to 25%. The official notification to carmakers will be made in July. This move aims to protect the European EV market but has drawn criticism from China, which views the tariffs as trade protectionism. Beijing has threatened retaliation, arguing that the tariffs violate international trade rules and will ultimately harm Europe's own interests. Despite the impending tariffs, Chinese automakers, including BYD and SAIC, remain committed to investing in Europe and integrating into local markets. Germany has urged the EU to impose lower tariffs to avoid severe retaliation, while France pushes for higher duties.