EU to Impose Tariffs of Up to 25％ on Chinese EVs, FT Reports

Reuters

16:45 JST, June 12, 2024

June 12 (Reuters) – The European Commission will notify car makers on Wednesday that it will provisionally apply additional duties of up to 25% on imported Chinese electric vehicles from next month, the Financial Times reported, citing people familiar with the matter.

Analysts have said they expect tariffs of between 10% and 25% on Chinese EVs, a move likely to prompt possible retaliation from Beijing. The European Commission has said Chinese EVs receive excessive subsidies.

The EU and China’s foreign affairs ministry did not immediately respond to Reuters’ requests for comment.

Less than a month after Washington quadrupled duties for Chinese EVs to 100%, Brussels is expected to set almost certainly far lower tariffs for imports from Chinese makers such as BYD 002594.SZ and Geely 0175.HK as well as Western producers such as Tesla TSLA.O that export cars from China to Europe.