The European Union has imposed significant new tariffs on Chinese car manufacturers, citing unfair subsidies provided by China to its industry. These tariffs, ranging from 26% to 48% on Chinese electric vehicles, are higher than those imposed on other imported cars. The EU fears that these subsidies create an uneven playing field and pose a threat to European carmakers. The investigation leading to these tariffs was initiated after concerns were raised about the impact of cut-price imports on the European automotive market.
While the immediate effects of these tariffs are uncertain, both car buyers and manufacturers are bracing for potential challenges. Consumers may face higher prices for imported cars, while European carmakers are wary of potential retaliation from China. Companies like Volkswagen and BMW, with significant operations in China, are particularly concerned about the repercussions of these tariffs.
2024-06-12 13:43:16
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