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The European Commission threatens to increase tariffs on electric vehicle imports from China to the European Union (EU) from July 4, after provisionally concluding that there are unfair practices by Beijing benefiting Chinese manufacturers.
In a statement, the European executive indicated that, provisionally, imports of BYD electric vehicles will be taxed at 17.4%, Geely at 20%, and SAIC at 38.1%, these being the brands included in the investigated sample.
Based on the findings of the investigation, the Commission provisionally determined that it is “in the EU’s interest to address the effects of the unfair trade practices detected, by introducing provisional countervailing duties on imports of electric vehicles from China.”
In addition to the three mentioned in the statement, other Chinese electric car manufacturers who cooperated with the investigation but were not included in the sample will be taxed at 21%, and those who did not cooperate at 38.1%.
Brussels also contacted Chinese authorities to discuss these conclusions and possible ways to resolve the issue, BUT if discussions with Chinese authorities do not lead to an effective solution, these provisional countervailing duties will be introduced from July 4 through a guarantee whose form will be decided by the customs authorities of each Member State.
Chinese electric car taxes could increase in July
For Brussels, the value chain of electric vehicles from China benefits from unfair subsidies, which is causing a threat of economic harm to EU manufacturers.
