Analyst Anthony Sassine on the implications of additional EU tariffs on Chinese EVs
The European Union has said it will hit Chinese electric cars with import taxes as high as 38.1% from next month, unless the issue can be resolved through dialogue. These taxes will be on top of the existing 10% tariffs on all Chinese EVs. Each carmaker will be taxed differently, depending on the extent to which they complied with an EU investigation. The EU is the biggest market for Chinese EVs, accounting for nearly 40% of total exports from the country. Anthony Sassine, senior investment strategist at KraneShares, explained the implications of the move.Â
The European Union has said it will hit Chinese electric cars with import taxes as high as 38.1% from next month, unless the issue can be resolved through dialogue. These taxes will be on top of the existing 10% tariffs on all Chinese EVs. Each carmaker will be taxed differently, depending on the extent to which they complied with an EU investigation. The EU is the biggest market for Chinese EVs, accounting for nearly 40% of total exports from the country. Anthony Sassine, senior investment strategist at KraneShares, explained the implications of the move.Â
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