EU gives green light to extra tariffs on Chinese EVs
The European Union (EU) has decided to raise tariffs on Chinese-built electric vehicles (EVs) to as much as 45.3%. The extra tariffs will apply on Oct 30, as they were formally published in the EU's Official Journal on the day before.
Coming on top of the existing 10% import duty and vary according to brand, the extra tariffs range from 7.8% to 35.3%, as follows:
- Tesla: 7.8%
- BYD: 17%
- Geely: 18.8%
- SAIC: 35.3%
- Other EV producers in China who cooperated in the investigation but have not been individually sampled: 20.7%
- Other non-cooperating EV producers in China: 35.3%
The EU has raised the tariffs on Chinese-built EVs. (Source: SAIC)
In the meantime, EU will continue negotiating with China in an attempt to secure a deal on minimum prices that can replace the tariffs.
In a statement, China's ministry of commerce said, “China does not agree with or accept the ruling.”
The ministry also noticed that the EU side had indicated it would continue to negotiate with China on price commitments, adding that China would like to find a solution acceptable to both sides as soon as possible to avoid escalating trade friction.
Read more: EU reveals draft adjusted duties on EVs from China
