Reported 7 months ago
The European Union has announced plans to impose temporary anti-subsidies tariffs on all electric vehicles imported from China starting next month, ranging from 27% to 48% based on companies' cooperation with investigations. This move comes after the US raised tariffs on Chinese imported electric vehicles, stating that the entire supply chain of Chinese electric vehicles benefits from government subsidies, which could harm European car manufacturers. Companies like Tesla, Renault, and BMW, producing electric vehicles in China, will also face increased tariffs. The EU's decision may lead to a trade war, with concerns from Germany and Hungary, while China expresses strong opposition to the EU's action. Both European and Chinese industries could suffer as a result.
Source: YAHOO