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On June 12, 2024, the European Commission issued a statement announcing additional tariffs of up to 38.1% on electric cars imported from China.

Specifically, the European Commission plans to impose a 17.4% tariff on BYD, a 20% tariff on Geely Automobile, and a 38.1% tariff on SAIC Motor Corporation. Other cooperating companies in the investigation will face a 21% tariff, while non-cooperating ones will be subject to the full 38.1% tariff.

This investigation stems from an anti-subsidy investigation conducted by the EU, scheduled to continue until November 2 when definitive duties, typically for five years, could apply.

The European Commission stated that if no negotiated settlement is reached with China, the imposition of provisional tariffs will take effect from July 4. These new tariffs will be in addition to the existing 10% tariff in the EU. Western manufacturers such as Tesla and BMW, exporting cars from China to Europe, are considered cooperating companies and will also face certain tariffs.

Source: WeChat Official Account—新京报

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