The European Union officially imposes tariffs on electric vehicles produced in China.
Release Time：
2024-10-31
As the tariffs imposed by the European Union on electric vehicles produced in China came into effect on Wednesday, European consumers may face higher prices when purchasing these cars. The tariffs are part of the EU leaders' efforts to create a fair competitive environment for domestic automakers. The increase in tariffs stems from the EU's response to Beijing's subsidy practices.Survey，These subsidies help Chinese automakers produce and sell electric vehicles, making them more competitive than their European counterparts.
Due to tariffs imposed by the United States, Chinese automakers have been forced to exit the market. They describe the EU tariffs as "protectionist" and "arbitrary" measures and point out that economies of scale have driven the rapid development of their electric vehicle production. The new tariffs are added on top of the existing 10% import tariff and vary depending on the amount of subsidies received by each Chinese automaker, with Tesla facing a new tariff of 7.8%, and SAIC Motor Corporation's tariff being the highest at 35.3%. These tariffs will last for five years.(Source: New York Times Chnese website)
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