The European Commission introduces punitive tariffs for specific electric cars imported from China.
The European Commission is placing duties on select electric cars originating from China, according to an announcement made on Wednesday. Cars from manufacturers BYD, Geely, and SAIC will be targeted, with tariffs set at 17.4% for BYD, 20% for Geely, and 38.1% for the state-owned Chinese-Volkswagen partnership SAIC.
This move is justified by the Commission on the grounds that Chinese electric vehicle imports might harm the European automotive sector. This aligns with the United States, who recently raised their own tariffs on Chinese electric vehicles to a hefty 100%. European carmakers, fearing possible retribution from the significant Chinese market, have expressed their strong opposition to these tariffs.
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The European Commission accused BYD, Geely, and SAIC of potentially harming the European automotive sector with their electric car imports from China. The tariffs on BYD, Geely, and SAIC's electric cars by the Commission could lead to increased prices for European consumers. The Chinese companies BYD, Geely, and SAIC's electric cars are now subject to higher tariffs due to the Commission's decision. The SAIC-VW partnership's electric cars will face the highest tariffs among the three Chinese automakers due to the Commission's measures.
