EU moves forward with heavy tariffs on Chinese EVs
07 October 2024
The EU took the next step toward what may become an all-out trade war with China on Friday. Member states voted to increase tariffs to 45% on Chinese electric vehicles (EVs). Ten member states, including France, Italy, and Poland, supported the move, whereas five, including Germany and Hungary, voted against, and 12 member states abstained.
The European Commission will decide if tariffs are imposed by the end of October. The Commission seems likely to approve; president von der Leyen said the move has "huge potential for Europe's future competitiveness."
The EU decision follows the US and Canada, which recently imposed tariffs of up to 100% on Chinese EVs. Reports from China suggest that tariffs undermine cooperation between China and the EU and endanger climate goals.
 | Paul Krantz Brussels says tariffs are needed to protect European carmakers who can't compete with Chinese EVs backed by huge subsidies. But not all European carmakers agree. German legacy carmakers, in particular, have condemned the move, suggesting that retaliatory tariffs from China will make car production more expensive, as many of their vehicles are produced there. From a purely climate-related point of view, EVs should be available as affordably as possible, regardless of which country makes them. Tariffs, applied first from the EU and then from China, can be expected to push the price of EVs higher than many Europeans can afford. |
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