China decries new EU tariffs on its electric vehicles – DW – 10/30/2024
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The EU has has increased tariffs, up to 45.3% on Chinese-imported EVs. China has slammed the decision, with EU members Germany and Hungary also vocally criticizing it.

The EU has has increased tariffs, up to 45.3% on Chinese-imported EVs. China has slammed the decision, with EU members Germany and Hungary also vocally criticizing it.

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The EU argues that Chinese subsidies hurt competitiveness at home. The European Commission identified preferential financing and grants, along with land, batteries, and raw materials offered below-market prices.

The commission argues that China’s spare production capacity, roughly 3 million EVs annually, is twice the size of the EU markets. The US and Canada had already enforced 100% tariffs on Chinese EVs, making Europe the most obvious market for these Chines cars now.

EU trade chief Valdis Dombrovskis said Tuesday that “by adopting these proportionate and targeted measures after a rigorous investigation, we’re standing up for fair market practices and for the European industrial base.”