European Union votes to impose tariffs on Chinese electric vehicles
The European Union on Friday voted to impose tariffs on Chinese battery electric vehicles.
ANI
Oct 04, 2024 17:53 IST
New Delhi [India], October 4 (ANI): The European Union on Friday voted to impose tariffs on Chinese battery electric vehicles.
The Commission said that it represents another step towards the conclusion of its anti-subsidy investigation against China.
As per reports, EU will impose tariffs of up to 45 per cent on Chinese electric vehicles.
"Today, the European Commission's proposal to impose definitive countervailing duties on imports of battery electric vehicles (BEVs) from China has obtained the necessary support from EU Member States for the adoption of tariffs," EU announced in a statement.
At the same time, the EU said it will continue to work hard to explore an alternative solution with China that would have to "be fully WTO-compatible, adequate in addressing the injurious subsidization" established by the Commission's investigation.
This move by the EU would present a significant opportunity for India, a major automobile manufacturer, experts believe.
Earlier this year, in May, the US administration also, in what it termed a protectionist measure to reduce trade imbalance, imposed heavy tariffs on various Chinese products including EVs and batteries. US had emphasized that these measures are necessary to counter the flooding of global markets with low-cost Chinese products. (ANI)
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