EU hits Chinese electric cars with new tariffs
The European Union has raised tariffs on Chinese electric vehicles, as Brussels takes action to protect the bloc's motor industry, BBC reports.
The new tariffs on individual manufactures range from 17.4% to 37.6%, which is on top of a 10% duty that was already in place for all electric cars imported from China.
This could raise the price of EVs across the EU, making them less affordable for European consumers.
The move is also a major blow for Beijing, which is already in a trade war with Washington. The EU is the largest overseas market for China’s EV industry and the country is counting on high-tech products to help revive its flagging economy.
EU officials say this rise in imports was boosted by "unfair subsidisation", which allowed China-made EVs to be sold at much lower prices than ones produced in the bloc.
China has denied this repeated allegation from the US and the EU: Beijing is subsidising excess production to flood western markets with cheap imports.
The new charges come into effect on Friday but are currently provisional while the investigation into Chinese state support for the country's EV makers continues. They are not likely to be imposed until later this year.
