The European Union has slightly changed proposed tariffs on electric vehicle imports from some Chinese automakers after the companies revealed more details about their business. The reduction in tariffs is small but could give hope that the EU is still willing to negotiate the tariffs before they are introduced next week.
According to Bloomberg, the EU reduced some import tariffs on Chinese electric cars after receiving more information from automakers as part of its anti-subsidy investigation. The news came from a person familiar with the matter who spoke on condition of anonymity.
SAIC with a rate of 37.6% instead of 38.1%, as well as Geely Automobile Holding – 19.9 instead of 20% can count on a reduction in duties.
The decrease is insignificant, but the very fact of the concession to analysts speaks volumes. The revised proposed tariffs will add to the existing duty of 10%.
China and the EU are reportedly still in talks, and the former appears to be agreeing to some sort of compromise rather than a complete repeal of the new tariffs. It is known that the tariffs proposed by the EU will enter into force on July 4.