EU is expected to unveil tariff plans for Chinese EVs this week

This week, the European Union is expected to announce provisional tariff rates for Chinese electric vehicles. Analysts have projected that the tariff rate could increase to 25-30% from the current 10%, while a risk scenario suggests a hike to 30-50%. Chinese automakers have been setting up factories in Europe, providing alternative options. The EU aims to crack down on low-priced, subsidized imports by raising fees for Chinese EVs starting July 4. The European Commission has been investigating subsidies to EV makers in China, alleging an economic threat to the EU’s EV industry. Concerns have been raised over China’s booming EV industry and potential flooding of markets such as the US.