EU Slaps Extra Tariffs Of Up To 38 Per Cent On Chinese EVs - Eastern Mirror
Thursday, July 11, 2024

EU slaps extra tariffs of up to 38 per cent on Chinese EVs

By IANS Updated: Jun 12, 2024 6:51 pm

NEW DELHI — The European Commission on Wednesday announced to impose provisional duties of up to 38.1 per cent on the import of Chinese electric vehicles (EVs).

An investigation by the Commission concluded that the battery electric vehicles (BEVs) value chain in China benefits from “unfair subsidization”, which is causing a threat of “economic injury” to EU BEV producers.

The individual duties on three Chinese EV producers would be 17.4 per cent for BYD, 20 per cent for Geely and 38.1 per cent for SAIC.

Other BEV producers in China, which cooperated in the investigation but have not been sampled, would be subject to the average duty of 21 per cent.

According to the Commission, all other BEV producers in China who did not cooperate in the investigation would be subject to the residual duty of 38.1 per cent.

On October 4, 2023, the Commission formally initiated a probe on imports of battery electric vehicles originating in China.

“Following a substantiated request, one BEV producer in China – Tesla – may receive an individually calculated duty rate at the definitive stage,” the Commission said.

Last month, US President Joe Biden announced plans to quadruple tariffs on Chinese EVs and hike duties for solar cells, semiconductors and other “strategic” sectors.

The Biden administration plans to hike tariffs this year on Chinese EVs from 25 per cent to 100 per cent.

By IANS Updated: Jun 12, 2024 6:51:04 pm
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