After an investigation that began last fall, the European Union has raised tariffs on electric cars imported from China.
, the EU called the new tariffs an effort to protect the region’s manufacturers from unfair competition. It comes one month after the US raised itssays the new EU tariffs open another front in the escalating trade tensions with China amid growing fears about a glut of Chinese green tech goods flooding global markets.
The European Commission has applied different tariffs to three major EV manufacturers. BYD, which sells almost as many electric cars worldwide as Tesla, has the lowest additional duty at 17.1%. Geely, which owns Sweden’s Volvo, will pay an extra 20% tariff, while SAIC, which is owned by the Chinese government, will see its tariffs increase by 38.1%.
Europe is open to engaging with Chinese officials to resolve the dispute, said senior EU communications officials, who insisted that the bloc was not looking to introduce higher tariffs for the sake of it, but was moving to defend its nations’ domestic industry.
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