Reported 7 months ago
After an 8-month anti-subsidy investigation, the EU announced on June 12, 2024, that it would increase the temporary tariff rates on all Chinese electric car manufacturers, ranging from the current 10% to a maximum of 38.1%. If no consensus is reached with China on car production capacity issues, the new tariffs are expected to be implemented around July 4. While China strongly opposed the decision, the EU hopes to negotiate with China in the latter half of the year to find fair competition conditions for European car manufacturers without restricting free trade regulations.
Source: YAHOO