EU imposes temporary anti-subsidy duties on Chinese electric vehicles

The European Commission announced that after a nine-month investigation, it decided to impose a temporary anti-subsidy tax on electric vehicles imported from China. Affected Chinese manufacturers include BYD (17.4%), Geely (19.9%) and SAIC (37.6%). Other unsampled manufacturers will be subject to an average tariff of 20.8%, and the tax rate for non-cooperative manufacturers will be 37.6%. The measure will take effect on July 5, 2024 and will last up to four months, during which time EU member states will decide whether to convert it into a five-year formal tariff.