European Union announces higher tariffs of up to 38% on Chinese EVs

Published 9 mins agoThe European Union on Wednesday said it would impose higher tariffs on Chinese electric vehicles from next month.

In a statement, the EU said it is imposing a 38.1% tariff on battery electric vehicle producers who did not cooperate with its investigation, and a lower 21% duty on carmakers in the Asian country who complied but have not been"sampled." The European Union on Wednesday said it would slap higher tariffs on Chinese electric vehicle imports, which it found benefit"heavily from unfair subsidies" and pose a"threat of economic injury" to EU EV producers.In a statement, the EU said it is imposing a 38.1% tariff on battery electric vehicle producers who did not cooperate with its investigation, and a lower 21% duty on carmakers in the Asian country who complied but have not been"sampled.

Main Chinese BEV producer BYD was struck with a 17.4% tarrif, with Geely slapped with a 20% duty. The EU has also imposed its 38.1% tariff on SAIC.All three producers were sampled in the EU probe.

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