China-Made EVs Hit With Additional EU Tariffs

Brussels announced on July 4 that companies that manufacture electric vehicles (EVs) in China will be subjected to additional tariffs when their products are exported into the European Union market. Tariffs of up to 37.6 percent on China-manufactured EVs will be imposed by all member states starting July 5. The decision is binding and will initially apply for four months, after which it may be extended for years. The move results from a months-long investigation by the EU’s Executive Commission, which found that China’s EV makers benefit from “unfair “state subsidies and pose a “threat of economic injury” to its homegrown auto business, the commission said in a statement on July 4....