The European Union has taken steps to raise tariffs on electric vehicles manufactured in China with provisional duties.
The European Commission, the EU’s executive arm, said that the provisional results of its investigation into Chinese EV subsidies had found that the country’s value chain “benefits from unfair subsidization.” Such subsidization, in turn, is causing a “threat of economic injury” to EU rivals, the Commission said.
To limit the economic injury to EU companies, from 5 July the bloc imposed tariffs of up to 37.6%—a figure that will vary by manufacturer—on EVs produced in China.
In addition to the current 10% tariff on all imported EVs, the EU’s new rules would impose additional duties of 17.4% on vehicles made by BYD, 19.9% on those made by Geely, and 37.6% on those made by SAIC, a government-owned automaker. Other Chinese EV producers, which cooperated in the investigation but were not sampled, are subject to the 20.8% weighted average duty. The duty for other non-cooperating companies is 37.6%.
The rates were revised down slightly from the figures previously disclosed in June. The duties will apply for up to four months, by which time EU Member States must vote on whether definitive duties will apply.
European automakers, among other players, have spoken out against the tariffs. Western automakers produce millions of cars in China for export, often to their home markets, and these could be affected by the tariffs.
Source: European Commission
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