The European Union will impose duties on imports of electric vehicles from China from Thursday, as negotiations between Brussels and Beijing failed to resolve their trade dispute.
Electric vehicles have become a flashpoint in a broader trade dispute, highlighting the impact of Chinese government subsidies on European markets and their growing exports of green technology.
Chinese-built electric cars surged from a mere 3.9% of the EV market in 2020 to 25% by September 2023, largely due to undercutting EU industry prices.
Although the duties will remain for five years, both the EU and China are still negotiating, seeking a solution that meets the concerns raised in the EU investigation.
#eu-china-trade-dispute #electric-vehicles #import-duties #market-dynamics #international-trade-relations
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