The EU could hit Chinese EVs with tariffs of up to 20%, but Beijing has threatened to retaliate
The Europe an Commission will decide whether to enforce tariffs on Chinese EVs this month. Some Chinese car manufacturers will shift more production to Europe . The country has threatened to retaliate with tariffs on imported vehicles with large engines. New Europe an Union tariffs on Chinese electric vehicles could cost Beijing $4 billion in trade and force companies to increase production within the EU.
“For consumers, this is likely to result in higher prices for electric vehicles because production within the EU is significantly more expensive than in China due to higher energy and material prices and, above all, significantly higher labor costs,” Kiel Institute trade researcher Julian Hinz said. “However, it is by no means a foregone conclusion that European car manufacturers will fill the gap, Chinese manufacturers such as BYD could also meet local demand with new plants in Europe.
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