European Commission to announce news today following months of debate over levelling automotive playing field
Chinese electric vehicles imported to Europe will be hit with an additional duty rate of up to 25% as part of plans to level the continent’s automotive playing field. The European Commission will announce the news today and provisionally apply the new tariff – which will be on top of the existing 10% duty – from next month, insiders have told the FT. Valdis Dombrovskis, EU trade commissioner previously proclaimed: “Competition must be fair.
Chinese-made EVs currently hold an 8% share in the EU. The Commission predicts this to rise to 15% by the end of 2024. In response, China’s foreign ministry claimed the ruling “violates market economy principles and international trade rules”, the FT reports. It branded it as “a typical example of protectionism”, adding: “Protectionism has no future. Open cooperation is the right path.
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