Economic Watch: Why EU, the world should be worried about tariff plan for Chinese EVs
The European Union's plan to impose additional duties on imports of Chinese electric vehicles (EVs), widely criticized as protectionist in nature, will have major implications in multiple spheres.
The move will damage China-EU trade ties, aggravate the consumer burden in Europe, and dampen the global transition to a greener future. Moreover, it may even put the bloc's reputation for fair competition in danger... moreEconomic Watch: Why EU, the world should be worried about tariff plan for Chinese EVs
The European Union's plan to impose additional duties on imports of Chinese electric vehicles (EVs), widely criticized as protectionist in nature, will have major implications in multiple spheres.
The move will damage China-EU trade ties, aggravate the consumer burden in Europe, and dampen the global transition to a greener future. Moreover, it may even put the bloc's reputation for fair competition in danger.
Although Chinese-brand EVs account for just a small share of the EU's EV imports, the European Commission on June 12 unveiled provisional tariffs ranging from 17.4 percent to 38.1 percent for Chinese EV makers despite widespread market concerns and China's objections.
In a brief statement, the European Commission accused China of "unfair subsidization" in its EV value chain, but did not provide further information to explain the factual or legal bases for its tariff plan......
