The European Union has imposed extra duties of up to 37.6 percent on imports of electric vehicles (EVs) made in China, the bloc announced, despite Beijing's warnings the movie would unleash a trade war. The European Commission said that the tariffs were put in place due to "unfair" state subsidies and will kick off Friday.

Beijing

The European Union has decided to impose additional duties of up to 37.6 percent on electric vehicles (EVs) imported from China. The European Commission attributes these tariffs to the "unfair" state subsidies received by Chinese manufacturers. Despite objections from Beijing, the new tariffs will be implemented shortly.

China, which boasts the world's largest EV market, is increasing its presence in Europe. Chinese EVs are projected to secure 15 percent of the market share by next year. However, the EU believes that the state subsidies provided to Chinese brands are not justified and warrant provisional duties.

Prominent Chinese automakers will be impacted unevenly, depending on their cooperation with the investigation. BYD faces an additional duty of 17.4 percent, while SIG Motor Corp will have to contend with the highest increase at 37.6 percent. Other non-Chinese manufacturers like Tesla and BMW, which produce in China, will also be affected by these changes.

China has responded to these measures by initiating anti-dumping investigations into European pork and brandy imports. Beijing is also considering challenging the EU's decision at the World Trade Organization or the European Court of Justice. The Chinese government urges the EU to consider the broader impacts on the China-EU automobile industry and hopes for pragmatic consultations.

The EU member states are scheduled to vote on the proposed tariffs in the coming weeks. Should they decide to proceed, the new duties would be effective for the next five years.



E.U. imposes tariffs on Chinese electric vehicles

China has the largest electric vehicle or EV market in the world and Chinese brands are fast making inroads into Europe. They're expected to account for 15 percent of market share by next year. But the EU says battery-powered cars made in China are unfairly subsidized and is imposing additional provisional duties on imports. Beijing rejects the accusation and is continuing to negotiate with EU officials ahead of a final decision which will be made in November. China hopes the EU will conduct consultations with China rationally and pragmatically and avoid countervailing measures from harming mutually beneficial cooperation and common development of the China-EU automobile industry. The provisional changes depend on each manufacturer's cooperation with the investigation and are on top of the 10 percent tariff already in place. Automaker BYD faces the lowest additional duty of 17.4 percent, while SIG Motor Corp will be subject to the biggest hike of 37.6 percent. Non-Chinese manufacturers who produce in the country, including Tesla and BMW, are also affected. For China's domestic economy and employment, this is not good news because that means in the next few years we'll probably see more of an incentive to move more capital and investment overseas. So that's not the jobs created in China. Beijing says it will take all necessary measures to safeguard its interests. It's already appeared to retaliate by launching anti-dumping probes into the import of European pork and brandy. The Chinese government and affected car companies could also challenge the EU at the World Trade Organization or the European Court of Justice. For now, Beijing says it hopes EU officials will heed voices critical of the duties, including from the German government and Europe's biggest carmaker Volkswagen, which says the move will harm the already weak demand for electric vehicles in Europe. EU member states will vote on the matter in the coming weeks. If they decide to push ahead, the additional tariffs will be imposed for five years.

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