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EU set to increase tariffs on Chinese electric cars
The Sunday Guardian
|November 03, 2024
The European Commission has given the final green light to steep tariffs on electric vehicles (EVs) made in China, officially closing the probe that began one year ago, as per Euro News.
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According to Euro News, the extra tariffs on Chinamade electric cars will go ahead as planned, despite ongoing talks with China and will apply as of Wednesday.
They are set to remain in place for the next five years.
Meanwhile, Brussels will continue negotiations with Beijing so as to secure a deal on minimum prices that can replace the tariffs.
It was observed by Euro News that this solution which was advocated by Germany is highly complex and would be difficult to implement.
Despite the introduction of tariffs, Brussels claims it remains committed to finding a solution with Beijing through enforcement of customs duties and rules which are compatible with the World Trade Organization (WTO), although this remains elusive.
This story is from the November 03, 2024 edition of The Sunday Guardian.
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