The European Commission has today notified car makers, that additional tariffs of up to 25 percent will be imposed on Chinese EVs from July. The tariffs are expected to earn more than two billion Euros a year, which would be added to the EU budget.
China has warned the EU, that a tariff on Chinese EVs would push China to impose a similar tariff on European EVs on top of the current tariff of 15 percent. The current EU tariff is 10 percent. Sweden, Germany and Hungary have said, that they wish to fight against the tariff as they are afraid of China’s countermeasure.
The Danish politician European Commissioner for Competition, Margrethe Vestager criticized the way China outperformed the European solar power industry.
“China attracted foreign investments, often with a requirement for joint ventures. Afterwards, China acquired the technology. They gave massive government subsidies to their own producers and closed of the Chinese market to foreign companies,” Vestager said.
According to the EU, the reason for the tarif is, that European carmakers are being challenged by cheaper EVs from their Chinese rivals. The Chinese carmakers receive state funding which creates an unfair advantage when comparing to their European counterparts. In 2023, China exported 10 billion worth of electric cars to the EU.
Source: BT.dk
