New EU Tariffs On Chinese Evs Take Effect

7/10/2024 2:14:57 PM

(MENAFN- Investor Brand Network) In a move predicted to stoke tensions between the European Union (EU) and China, the EU has levied a
37.6% import tariff
on electric vehicles manufactured in China. European Union leaders first announced the provisional tariffs several weeks ago as part of efforts to protect European automakers from Chinese automakers supported by
billions of dollars
in government subsidies.

With the U.S. market largely off limits to Chinese automakers even before the United States levied a 100% tariff on EV imports from China, Chinese carmakers turned to...

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