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What will be the impact of EU tariffs on Chinese EV market share in Europe by the end of 2024?
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Story
EU Imposes Provisional Tariffs on Chinese EVs Amid Trade Dispute Effective October 2023
Jul 5, 2024, 02:10 AM
The European Union has taken steps to impose heavy tariffs on Chinese electric vehicles (EVs), escalating a trade dispute with China. The European Commission has initiated an anti-subsidy investigation and imposed provisional countervailing duties on imports of battery electric vehicles from China, effective from October 2023. These tariffs are set to be finalized in October. The German Association of the Automotive Industry has expressed concerns that these tariffs will hinder the ramp-up of electromobility and decarbonization efforts, negatively impacting both European consumers and companies. Chinese brands such as MG and Nio are considering raising car prices in Europe in response to the tariffs. In a related move, China's Ministry of Commerce has announced an anti-dumping investigation into European brandy imports, with a hearing scheduled for July 18.
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