EU Imposes Tariffs Up to 45% on Chinese EVs, China Retaliates with 30.6-39% Brandy Tariffs

Oct 8, 2024, 05:58 AM

The European Union has decided to impose tariffs of up to 45% on Chinese electric vehicles (EVs), citing the need to foster a European EV industry with state backing and support. This move has sparked strong opposition from China, which has called for negotiations and warned of potential retaliatory measures. The decision has also raised concerns among EU member states and European automakers about the potential negative impact on trade relations and green ambitions. In response, China has announced provisional tariffs of 30.6-39% on European brandy starting October 11, escalating the trade dispute. Analysts warn that these tariffs could stifle technological growth and hinder the fight against climate change.