Affordable Cars Are History!
EU plans for tariffs on electric vehicles imported from China will be announced. But when? Here are the details!
Europe is witnessing the rise of Chinese electric vehicles. In recent years, the share of Chinese manufacturers has grown rapidly, with low-priced and subsidized models outpacing their competitors.
As a result, the EU Commission is investigating China’s state subsidies for electric vehicles. As a result of the investigation, temporary additional tariffs on electric vehicles imported from China may be imposed. The decision is expected to be officially announced on Wednesday.
Temporary Additional Customs Duty on China’s Electric Vehicles on the Way
In September 2023, EU Commission President Ursula von der Leyen announced that electric cars imported from China would be investigated. Immediately afterwards, the EU Commission made an official announcement that an investigation had been launched into electric cars imported from China to EU member states.
The investigation involves the EU looking into the support and subsidies provided to electric cars produced in China and shipped to the EU, regardless of the country’s brand.
China is expected to impose similar tariffs on some European products in response. However, a decision to make the temporary tariffs permanent would require the approval of other member states.
Currently, the EU imposes a 10 percent tariff on Chinese electric cars. However, additional duties of between 10 and 25 percent are expected to be imposed as part of the measure and the investigation.
In addition, Turkey had previously made a similar move after the EU and the US imposed additional taxes on electric vehicles. An additional 40 percent tax was imposed on electric cars imported from China.
