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EU to Apply 38% Tariff on Some Imported Chinese EVs Following Anti-Subsidy Investigation
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EU to Apply 38% Tariff on Some Imported Chinese EVs Following Anti-Subsidy Investigation
Jun 12, 2024 4:38 AM

07:12 AM EDT, 06/12/2024 (MT Newswires) -- The European Commission said Wednesday that it plans to impose provisional duties of up to 38.1% on some imported Chinese electric vehicles, in addition to the ordinary import duty of 10% levied on imports of battery EVs.

The regulator said the provisional duties are the result of anti-subsidy investigation that revealed that the entire Chinese battery electric vehicles value chain is "heavily subsidised in China" and that imports of Chinese EVs "presented a threat of clearly foreseeable and imminent injury to EU industry."

The commission said it plans to apply different tariff rates on each carmaker, with BYD vehicles being subject to a 17.4% rate. Carmakers that cooperated with the EU investigation but were not individually sampled will face an average rate of 21%. Those who did not cooperate will face a 38% rate on the top of the existing 10% duty.

The commission said it had already notified the carmakers and the Chinese government and will publish in the Official Journal a regulation explaining "in detail the provisional findings which led to this level of duties" by July 4 at the latest.

Price: 170.21, Change: -0.45, Percent Change: -0.26

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