The Strategist

EU to cut duties on Chinese electric cars imports



09/12/2024 - 03:10



The additional levies imposed by the EU on Chinese electric car imports will be somewhat reduced, writes Bloomberg citing sources.



martin abegglen
martin abegglen
The revision process is linked to the acquisition of fresh data from businesses and might go for as long as the international dialog does.

Specifically, the government observes that thee duties for Tesla will be somewhat lower than 8% (vs. previously projected 9%).

According to Mlex, the maximum duties for companies that have not cooperated with the European Commission to address its concerns regarding their potential subsidies would drop from 36.3% to 35.3%. The rate for the American corporation will be 7.8%.

The duties, which will be in addition to the current 10% duties, are anticipated to be introduced in November after being put to a vote in October by EU member states.

In July, there was a "recommendation vote" in which 11 of the bloc's member states supported increasing levies, 4 opposed it, and 9 abstained.

source: bloomberg.com