Reported about 1 year ago
The European Union has decided to increase customs duties on electric vehicles imported from China due to a trade dispute over subsidies and increasing Chinese exports of green technology to the EU. The higher duties, set to take effect on Friday, will follow a final decision in four months. The European Commission found that Chinese EV manufacturers benefited from substantial government aid, allowing them to undercut prices in the EU. Talks between the EU and China are ongoing to resolve the issue, with the EU aiming to address the imbalance. The U.S. is also raising tariffs on Chinese EVs, but at a higher rate compared to the EU, aiming to block most imports.
Source: YAHOO