On Friday, the European Union decided to enact final tariffs on battery electric cars (BEVs) manufactured in China.
The EU announced in a statement that “today, the European Commission’s proposal to impose definitive countervailing duties on imports of battery electric vehicles (BEVs) from China has obtained the necessary support from EU Member States for the adoption of tariffs.”
It further stated that the ruling represented a further step towards the resolution of the Commission’s October 2023 anti-subsidy probe into Chinese electric vehicle imports.
In June, the EU initially said that it will impose higher duties on Chinese imports of electric vehicles, citing the fact that the Chinese vehicles “heavily benefit from unfair subsidies” and represent a “threat of economic injury” to European electric car manufacturers.
Individual firms’ duties were also revealed in relation to the information they provided to the EU during the bloc’s investigation into electric vehicle production in China and their degree of cooperation.
Source (CNBC)
