Formal pre-disclosure comes ahead of the July 4 deadline to impose measures.
The European Union is set to disclose tariff rates on Chinese electric vehicles as early as Wednesday, Reuters and other media report. The formal pre-disclosure of the rates comes ahead of the July 4 deadline to impose measures. The announcement follows a lengthy investigation into Chinese subsidies for its EV manufacturers launched in October (we reported). At the time, Commission President Ursula von der Leyen spoke of “world markets flooded with cheaper Chinese electric cars” [translation preview.rohstoff.net/].
Last month, the United States also imposed import tariffs on Chinese EVs and a range of other clean-tech goods, such as batteries and magnets. The U.S. levy on EVs was raised from 25 percent to 100 percent. Reuters adds that the EU is expected to impose rates for EVs between 10 and 25 percent. The difference between the U.S. and the EU is that the former is currently no key export market for Chinese EVs, while the latter is becoming increasingly crucial for cars made in the People’s Republic.
Photo: iStock/xieyuliang
