Europe is slapping tariffs on Chinese electric vehicles - for now. Here's what to know
European Union is imposing sharply higher customs duties on electric vehicles imported from China. EVs are the latest flash point in a broader trade dispute over Chinese government subsidies and Beijing's burgeoning exports of green technology to the 27-nation bloc. The higher duties go into effect on Friday, pending a final decision in four month's time.
Here are some basic facts about the EU's planned customs duties:
What did the European Union do?
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After an eight-month investigation, the European Commission, the EU's executive arm, found that companies making electric cars in China benefit from massive government help that means they can undercut rivals in the EU on prices, take a big market share and threaten European jobs.
It announced the higher duties on June 12 and they go into effect from Friday. The duties are provisional, meaning they will be totaled up but won't need to be paid until they're confirmed by a vote of EU governments before November 2.
The EU will only collect the duties if there's a further finding that the European auto industry would have suffered material harm without them.
That gives the EU and the Chinese government time to negotiate. Talks have been held between Valdis Dombrovskis, the EU commissioner for the economy, and Chinese Trade Minister Wang Wentao, as well as at the level of technical experts.
The higher duties are not a goal in themselves but «a means to correct an imbalance,»
