🚗 Revving Up Tariffs: EU's Bold Move on Chinese EVs 🚗
The European Commission just shifted gears, imposing additional tariffs of up to 37.6% on imported Chinese electric vehicles (EVs) starting this Friday. That's on top of the standard 10% duty already in place! 😱
Leading Chinese EV makers like SAIC, Geely, and BYD, who have been making waves in the European market, are now facing steep individual duties. Here's the breakdown:
- SAIC: 37.6%
- Geely: 19.9%
- BYD: 17.4%
Other Chinese EV producers who cooperated in the EC's investigation but weren't specifically sampled will see a weighted average duty of 20.8%. For all other Chinese EV manufacturers, it's a hefty 37.6% 😓.
This move by the EU might put the brakes on mutually beneficial cooperation between the two economic powerhouses. As the global community shifts towards greener transportation, such tariffs could create bumps on the road to sustainable progress 🌍.
What do you think about this tariff hike? Will it spark a trade showdown or drive innovation in the EV industry? Let us know! 💬
Reference(s):
EU tariffs hike on Chinese EVs to harm mutually beneficial cooperation
cgtn.com
