2024-08-20 10:32:39
The EU plans to impose anti-dumping duties on electric vehicles produced in China, which should not be applied retroactively and will only be imposed after a final decision is made in the autumn. The European Commission made the announcement on Tuesday following a legal review in Brussels. Therefore, the retroactive application from March 7, 2024, which had previously been in the pipeline, is no longer feasible.
The proposed amount of punitive tariffs has also been slightly adjusted. U.S. automaker Tesla also imposed a separate 9% tariff. The Brussels authorities issued a statement saying that the adjustments to the planned measures proposed today will take into account the opinions of relevant parties.
The European Commission explained its anti-dumping investigation by saying that Beijing paid unfair subsidies to electric vehicle manufacturers, thus distorting competition. In addition to the existing 10% import tariff, punitive tariffs may also be imposed. But before that happens, EU member states must vote on punitive tariffs. The rule is that a qualified majority (at least 55% of countries, representing at least 65% of the EU population) must vote against the tariffs. Otherwise these may not take effect. It should be completed by the end of October at the latest, and the tariffs will initially apply for five years.
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