Thursday, July 25, 2024

The EU imposes temporary punitive tariffs on electric cars from China

The EU Commission has decided to impose a duty of up to 37.6 percent on Chinese electric cars. This despite protests from European car brands.

The EU Commission calls the new tariff temporary. Nevertheless, all Chinese electric cars are now hit by punitive tariffs of up to 37.6 percent.

The commission writes this in a press release .

The temporary tariff, which the EU calls the penalty, will apply from Friday 5 July and for a period that can extend for a maximum of four months. At least at present.

In the interim period, the EU must have made a decision on a more permanent customs state. The customs state will apply for five years, once the EU member states have made the decision.

The punitive tariff that the EU is now hitting the Chinese car manufacturers with is individual from brand to brand. But it cannot be higher than 37.6 percent.

It is expected that China will strike again against the new EU rules. It is already abounding that the Chinese will target the more expensive European brands in particular. Read more about it here .

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