EU Moves to Impose Tariffs on Chinese EVs

The European Union has moved forward with plans to impose tariffs of up to 35.3% on Chinese-made electric vehicles (EVs) following an anti-subsidy investigation that found Chinese automakers benefit from unfair subsidies. Germany, a major player in the EU's automotive sector, strongly opposes the tariffs due to fears of a trade war with China, one of its largest markets. Despite Germany's opposition, the European Commission received enough support from member states to proceed, although the decision was not unanimous. The EU intends to continue negotiations with China to find a WTO-compatible solution to the subsidies issue, and the tariffs, scheduled for implementation by the end of October, could be lifted if a resolution is reached. Meanwhile, Beijing has criticized the tariffs as protectionist and threatened retaliatory measures. The tariffs are set to affect major Chinese brands such as SAIC, BYD, and Geely.