Reported 7 months ago
Following the EU's decision to impose punitive tariffs on electric cars from China starting July 4, additional tariffs of up to 38.1% will now be applied on top of the existing 10% import tariffs. China is reportedly considering retaliatory measures on European imported cars and brandy. This move comes in response to China discontent towards EU's actions, with plans to possibly increase temporary tariffs on large-displacement petrol cars from Europe. If implemented, this could impact European brands like BMW and Mercedes-Benz, resulting in a blow to Europe's car exports to China.
Source: YAHOO