The European Union will hike tariffs on Chinese electric vehicles (EVs) on July 4 unless Beijing agrees to a solution to subsidies distorting markets. The EU believes Chinese EVs are 20% cheaper than European ones, leading to a significant rise in imports.
The new import duties will increase from 10% to 38% if discussions with China do not resolve the subsidies issue, as part of a broader trade dispute over Chinese state support for green technologies.
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