These tariffs, which reached 38.1%, had a considerable impact on the Asian country’s automotive industry, known for its price competitiveness.
The European Comission initially imposed significant tariffs on Chinese electric vehicle manufacturers, such as BYD, Geely and SAIC, in response to alleged unfair subsidies.
These tariffs, which reached up to 38.1%, generated a considerable impact on the automotive industry China, known for its competitive prices. However, the Commission revised these provisional rates slightly downwards, although Final decisions are expected in November, after continued negotiations with manufacturers.
BYD saw a tariff of 17.4%, while Geely and SAIC faced tariffs of 19.9% and 37.6%respectively, with SAIC bearing the brunt of the lack of cooperation in investigations by the EU, according to information from xataka.
Europe lowers tariffs on Chinese electric cars
Although countries like Spain and France supported these tariffs to level the playing field in automotive competition, Germany, together with Sweden and Hungary, expressed his disagreement, fearing trade retaliation from China.
The quick response of China did not wait, implementing strong tariffs on European pork just five days after the announcement of the EU. This especially affected Spainthe main European pork exporter.
This episode reflects the growing tensions in international trade, especially in strategic sectors such as the automotive and agricultural sectors, where trade policies can have significant repercussions at a global level.
Source: Ambito
I’m a recent graduate of the University of Missouri with a degree in journalism. I started working as a news reporter for 24 Hours World about two years ago, and I’ve been writing articles ever since. My main focus is automotive news, but I’ve also written about politics, lifestyle, and entertainment.
