BRUSSELS — The European Union moved Wednesday to hike tariffs on Chinese electric vehicles, escalating a trade dispute over Beijing's subsidies for the exports that Brussels worries is hurting domestic automakers.
“Should discussions with Chinese authorities not lead to an effective solution,” the new rates would take effect on a provisional basis by July 4, the commission said in a press release. But EU officials complain that Chinese automakers like BYD and SAIC are increasing market share and undercutting European car brands on price thanks to Beijing's massive subsidies.
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