EU moves to impose tariffs on cheaper Chinese electric cars
Member states of the European Union agreed on Friday to impose tariffs on Chinese electric cars, according to the EU source. The EU is the largest importer of electric vehicles from China.
Germany, Hungary, Malta, Slovenia, and Slovakia opposed introducing tariffs. Belgium, the Czech Republic, Greece, Spain, Croatia, Cyprus, Luxembourg, Austria, Portugal, Romania, Sweden, and Finland abstained from voting. Poland and the remaining EU countries were in favour.
This means the European Commission's proposal received sufficient support for the EC to impose permanent tariffs on electric cars from China for five years. A qualified majority of 15 member countries representing 65% of the EU population was needed to block this measure.
China dominates in this area worldwide
China is the largest producer of electric vehicles in the world. In 2023, its global exports of these vehicles increased by 70%, reaching a value of $34.1 (€30.9) billion.
The European Union, on the other hand, is the largest market for Chinese electric vehicles, accounting for nearly 40% of Chinese exports.
In 2023, EU countries purchased Chinese cars worth €3.5 billion, nearly 40% more than in the previous year. This raised concerns within the Union and some EU capitals, as the prices of Chinese electric cars are typically 20% lower than those of models produced in the EU.
