EU to Impose Provisional Anti-Subsidy Duty on Chinese Electric Vehicle Imports, Sparking Opposition from European Carmakers

TapTechNews July 4th news, today, the European Commission decided to impose a provisional anti-subsidy duty on imports of electric vehicles from China. Chinese producers who cooperate but are not sampled will be levied an average weighted tariff of 20.8%, and the tariff rate for uncooperative companies is 37.6%. This provisional tariff will take effect on July 5, 2024, and last for a maximum of four months.

According to Bloomberg, many European carmakers have clearly expressed their opposition to the European Union's move. Mercedes-Benz, Volkswagen, and BMW have all sent warnings to the European Union. BMW's chairman and CEO, Oliver Zipse, once again criticized the European Union's approach this time: Tariff is a dead end (adeadend), and it will not enhance the strength of European carmakers.

Zipse said in a statement that, Quite the contrary, it not only damages the business model of companies active globally but also restricts the supply of electric vehicles to European customers, and therefore even slows down the decarbonization process in the transportation sector.

According to TapTechNews' previous report, Zipse had already expressed his attitude on May 8: The measure of imposing additional tariffs on electric vehicles imported from China would only shoot oneself in the foot. We don't think our industry needs protection, Zipse told analysts, adding that doing business globally can bring industrial advantages to major carmakers, Introducing import tariffs could easily endanger this advantage.

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Tomorrow takes effect, the European Union will impose a provisional tariff on Chinese electric vehicles for a four-month period as originally planned.

BMW CEO opposes the European Union imposing additional tariffs on Chinese electric vehicles: It will only'shoot oneself in the foot'.