BRUSSELS –
The European Commission said it will impose additional duties of up to 38.1% on imported Chinese electric vehicles from July, risking retaliation from Beijing, which said on Wednesday it would take measures to safeguard its interests.
Less than a month after Washington announced plans to quadruple duties on Chinese EVs to 100%, Brussels said it would combat excessive subsidies with additional tariffs ranging from 17.4% for BYD to 38.1% for SAIC, on top of the standard car excise tax of 10%.
That amounts to billions of euros in extra costs for carmakers at a time when they are struggling with slowing demand and falling prices at home, according to calculations based on 2023 EU trade data.
