EU to Impose Tariffs on Chinese Electric Vehicles Amid Trade Tensions

The European Union has decided to impose tariffs of up to 45% on Chinese battery electric vehicles. This decision marks a further step in the EU's anti-subsidy investigation against China. The move aligns with earlier US protectionist measures to combat the influx of low-cost Chinese products.

The European Union announced on Friday that it would impose tariffs on Chinese battery electric vehicles as part of its ongoing anti-subsidy investigation into China. The measure received necessary support from EU Member States, marking a significant step in trade relations.

The proposed tariffs could reach up to 45%, according to the EU Commission's declaration. The Commission emphasized that these definitive countervailing duties are crucial to address unfair subsidization practices identified in the investigation.

The EU also expressed a willingness to explore alternative solutions with China, ensuring they align with WTO guidelines. Experts indicate this situation might benefit India, positioning it as a key player in the automobile manufacturing sector. This decision aligns with the US's stance, which imposed similar tariffs earlier this year to curb the influx of inexpensive Chinese products.

(With inputs from agencies.)