The European Union plans to impose additional tariffs of up to 38 percent on Chinese-made electric vehicles to protect the region's manufacturers from unfair competition. The move will add to the existing 10 percent tariff on EVs, with different rates for each manufacturer. The enforcement date is set for July 4 if an agreement is not reached.
European automakers and some authorities oppose the EU's decision, fearing retaliation from China that could result in increased EV prices, potentially deterring customers from transitioning to electric vehicles. Concerns are raised about the impact this tariff move could have on the market.
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