The European Union has confirmed its decision to increase tariffs on electric vehicles imported from China, with rates ranging from 17.4% to 37.6%. This decision comes after an investigation found that Chinese electric car manufacturers benefit from "unfair" subsidization, posing a threat to European automakers. The tariffs will affect Chinese automakers like BYD, as well as potentially European brands producing cars in China, and even U.S. giant Tesla. The move is seen as a response to Chinese automakers aggressively expanding into Europe with competitively priced offerings. Chinese EV makers like Nio and Xpeng have expressed concerns about potential price increases due to the tariffs, while Geely declined to comment. The EU's decision has sparked discussions about potential retaliation from China and the impact on car prices in Europe. The European Commission has emphasized that the tariffs are a means to correct an imbalance and hopes to reach a solution through negotiations with China. The provisional duties, set to be confirmed by a vote of EU governments before November 2, are part of a broader trade dispute over Chinese government subsidies and exports of green technology to the EU. The rates, if applied, would range from 17.4% to 37.6%, with the highest tariff of 37.6% imposed on vehicles exported by China’s state-owned SAIC. This move is likely to escalate trade tensions between the EU and China.
