Reports from the China Chamber of Commerce for Import and Export of Machinery and Electronic Products or financial news outlets like Bloomberg or Reuters

EU to Impose 9% Tariff on Tesla Cars as July Registrations Drop

Aug 20, 2024, 09:38 AM

The European Union is set to propose a new tariff of 9% on Tesla vehicles imported from China, down from the previously suggested 20.8%. This adjustment is part of the EU's broader strategy to impose definitive tariffs on electric vehicles manufactured in China, which could reach up to 36.3%. The decision comes amid ongoing tensions between the EU and China over trade practices, particularly regarding the alleged subsidies provided to Chinese electric vehicle manufacturers. The China Chamber of Commerce for Import and Export of Machinery and Electronic Products has warned that these tariffs could lead to a reduction in Chinese investment in Europe. The EU's move is seen as an effort to protect its domestic auto industry from low-cost competition. In July, registrations of Chinese-made EVs in the EU dropped, with BYD gaining ground while MG and Polestar saw declines.