The European Commission drastically increased import tariffs on Chinese electric cars: Chinese automakers would face duties as high as 38%. Up from the current 10%. The Chinese government accused the EU of protectionism.
The bloc is reacting to China widening its reach in global EV markets. Brands like BYD, Geely and SAIC have been expanding abroad, mostly due to their lower prices. Both the EU and the US are accusing Beijing of illegally subsidizing Chinese car manufacturers. The commission says the tariff hike could be averted if talks with Beijing find an ‘effective solution.’
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