EU to impose additional tariffs of up to 38% on Chinese EVs
The EU has warned it would hit Chinese electric cars with import taxes as high as 38% 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. China has condemned the protectionist move and warned that the tariffs would harm Europe's own interests. The EU is the biggest market for Chinese EVs, accounting for nearly 40% of total exports from the country. Olivia Siong and Alex Cadier report.
The EU has warned it would hit Chinese electric cars with import taxes as high as 38% 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. China has condemned the protectionist move and warned that the tariffs would harm Europe's own interests. The EU is the biggest market for Chinese EVs, accounting for nearly 40% of total exports from the country. Olivia Siong and Alex Cadier report.
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