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China Eyes Tariff Hike as EU Imposes Up to 36.3% on SAIC Motor EVs

Aug 26, 2024, 04:27 AM

China is considering raising import tariffs on large engine petrol-powered vehicles in response to the European Union's decision to impose tariffs on Chinese electric vehicles (EVs). On August 20, the EU disclosed its plan to levy tariffs ranging from 17% to 36.3% on EVs imported from China, following a countervailing investigation. This move has prompted opposition from Chinese carmakers and the country's leading auto association, although they remain committed to exploring European markets. The EU's decision is seen as an attempt to assert dominance in the automotive sector. SAIC Motor Corp, a Chinese EV maker, was notably affected, receiving a 36.3% tariff due to its perceived lack of cooperation in sharing data with EU authorities, raising concerns about the security of the information shared.