Reported 7 months ago
The European Union has announced plans to increase tariffs on Chinese electric vehicles due to concerns over Beijing's subsidies causing unfair competition and economic harm to EU automakers. The move, which could see Chinese automakers facing additional duties of up to 38%, comes after an investigation into China's subsidies for electric vehicles. If discussions with Chinese authorities fail to resolve the issues, the new rates will take effect on a provisional basis. This escalation in tariffs is part of a broader trade dispute between the EU and China, focusing on unfair state support for green tech exports like electric cars, solar panels, batteries, and wind turbines.
Source: YAHOO