2024-07-04 19:33:41
The European Commission imposes temporary punitive duties on electric car imports from China. Depending on the manufacturer, the surcharges range between 17.4 and 37.6 percent, on top of the ten percent import duty that already applies, according to a publication in the EU’s official journal. “The countervailing duties will apply from July 5 for a maximum period of four months,” the EU body wrote.
Brussels’ decision is temporary. The final introduction of punitive tariffs is expected to take place in November if China continues to make no concessions in ongoing negotiations with Brussels. Until then, duties are not paid, but only guarantees are provided for them.
“I hope that the European side and the Chinese side will come closer to each other and speed up the consultation process,” said a spokesman for the Ministry of Commerce in Beijing.
On June 12, the EC announced the temporary tariff increases to the current rate of ten percent. She justified the measure with high subsidies from the Chinese government for the production of electric cars along the entire value chain. According to Brussels, this creates an unfair advantage over the European car industry.
The highest possible surcharge of 37.6 percent applies to automakers that have not cooperated with the EU investigation that began nine months ago, such as Volkswagen partner SAIC.