People stand near NIO ET5 car model at the NIO House, the showroom of the Chinese premium smart electric vehicle manufacture NIO Inc. in Berlin, Germany, August 17, 2023. [Annegret Hilse/Reuters]
Several European countries are set to vote on imposing tariffs of up to 45% on electric vehicles (EVs) imported from China, in a move that could heighten trade tensions with Beijing. The European Commission has proposed these tariffs following an anti-subsidy investigation into Chinese-made EVs. France, Greece, Italy, and Poland are likely to support the proposal, representing 39% of the EU population, with France’s President Macron calling Chinese subsidies “unbearable.”
While the EU is open to negotiations with China, discussions on minimum import prices and investment commitments are underway. The tariffs, ranging from 7.8% to 35.3%, apply to companies like Tesla and SAIC. This decision underscores the EU’s aim to protect its industry against potentially unfair competition from China. Stay tuned for the final outcome of this crucial vote on Friday.