The European Union has carried out its threat to impose provisional tariffs on imports of electric cars from China of up to 37.6%, the bloc’s Official Journal announced on Thursday.
Chinese companies affected include BYD, a major sponsor of the Euro 2024 football tournament in Germany, hit with tariffs of 17.4%, Geely at 19.9% and SAIC at 37.6%.
The threat of provisional tariffs on electric cars dates to last month after an investigation by the European Commission found evidence of illegal support from Chinese state subsidies.
With the risk of a trade war with Beijing looming, the punitive EU measures become final within four months, unless China makes concessions. Until then, a security deposit has to be paid instead of a tariff.
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