The EU has until July 4 to order a provisional hike in import duties on Chinese EVs – currently at 10% – with the expectation it could make its move some time in June. — Bloomberg
Brussels: The European Union (EU) faces a delicate balancing act as it prepares to rev up taxes on Chinese electric cars to protect European industry, while steering clear of a US-style showdown with Beijing that could spark a trade war.
Europe’s automotive sector is the jewel in its industrial crown – behind iconic brands from Mercedes to Ferrari – but it faces an existential threat from the looming end of combustion engines and China’s head start in the switch to electric.
