The EU Commission aims to implement high import taxes, reaching as much as 36.3%, on electric vehicles hailing from China.
The Old World's Commission is planning to slap a tax of up to 36.3% on electric vehicles hailing from China. As per a declaration made on Tuesday, these extra taxes might go into effect as soon as the end of October, assuming acceptance from the EU nations, and they'll be in force for five years. Notably, big auto players such as Tesla and VW will see tariffs significantly lower than the maximum rate.
After conducting an examination initiated in early July, the Old World's Commission has concluded its probe. For firms like Volkswagen and their Chinese partners in crime, a tariff surcharge of 21.3% will be levied on imports into the EU. It appears that Tesla, an American automaker, has successfully negotiated an even lower rate of 9.0%.
The Old World's Commission claims that China is offering illicit subsidies to its electric vehicle manufacturers. This concerns them, as they believe it could potentially lead to negative consequences for European manufacturers, like factory closures or layoffs. However, commission representatives underlined that they're still open to discussions with China to dodge these taxes.
The Old World's Commission has announced its decision to impose tariffs on Chinese electric vehicles, as mentioned in their investigation conducted in July. In accordance with this decision, Chinese firms like those collaborating with Volkswagen will face a tariff surcharge of 21.3%.
