EU imposes higher tariffs on Chinese EVs
The European Union announced higher tariffs on Chinese electric vehicle imports due to significant unfair subsidies, posing a threat to European EV manufacturers.
The EU Commission found that China's battery electric vehicle supply chain is unfairly subsidised, warranting provisional countervailing duties on Chinese BEV imports.
These tariffs, from an October investigation, will take effect on 4 July if no resolution is reached with China, with permanent measures within four months.
Subsidised Chinese imports at low prices threaten EU industry. Non-cooperative Chinese BEV producers face a 38.1% tariff, while cooperative ones face 21%. BYD faces 17.4%, Geely 20%, and SAIC 38.1%.
Tesla might get a specific duty rate after a formal request. Nio criticised the tariffs as harmful to global trade and environmental goals.
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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