EU launches probe into Chinese EVs
PHOTO: EXPRESS
The European Commission launched an investigation on Wednesday into whether to impose punitive tariffs to protect European Union (EU) producers against cheaper Chinese electric vehicle (EV) imports it says are benefiting from state subsidies.
“Global markets are now flooded with cheaper electric cars. And their price is kept artificially low by huge state subsidies,” European Commission President Ursula von der Leyen said in her annual address to the bloc’s parliament, seen by many in Brussels as a pitch for her re-appointment for a second term.
The commission will have up to 13 months to assess whether to impose tariffs above the standard 10% EU rate for cars in its highest profile case against China since an EU probe into Chinese solar panels narrowly avoided a trade war a decade ago.
The anti-subsidy investigation covers battery-powered cars from China, so also includes non-Chinese brands made there.
Published in The Express Tribune, September 14th, 2023.
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