EU imposing countervailing duties on Chinese BEVs due to unfair subsidization in value chain

From CNBC: 2024-06-12 10:01:12

The European Commission is planning to impose countervailing duties of up to 38.1 percent on imports of battery electric vehicles (BEVs) from China due to unfair subsidization in the BEV value chain, posing a threat to EU producers.

The Commission initiated an anti-subsidy investigation on BEVs from China, with provisional countervailing duties of 17.4 percent on BYD BEVs, 20 percent on Geely BEVs, and 38.1 percent on SAIC BEVs.

Other Chinese BEV producers may face a weighted average duty of 21 percent if they cooperated in the investigation, with a residual duty of 38.1 percent for those that did not. Discussions with Chinese authorities are ongoing to explore solutions.

If discussions do not lead to a resolution, provisional countervailing duties will be introduced from July 4, 2024. Tesla and other BEV producers can request an individually calculated duty rate or accelerated review. The aim is to ensure fair competition between EU and Chinese industries.



Read more at CNBC: EU To Impose Countervailing Duties Of Up To 38.1% On Chinese BEVs