EU tariffs on Chinese EVs – level 1

EU tariffs on Chinese EVs

17-06-2024 15:00

The EU will add extra taxes up to 38.1% on Chinese electric cars from July.

This change will stop unfair help from the Chinese government. Washington also has higher taxes on Chinese electric cars. The new EU taxes will be from 17.4% to 38.1%, plus the usual 10% tax. These extra taxes could cost billions of euros. Chinese electric cars now have 8% of the EU market, up from less than 1% in 2019, and may reach 15% by 2025. They are usually 20% cheaper than EU-made cars. This is a big change to protect the EU car industry. The EU starts looking into Chinese car help in October last year.

Difficult words: tax (money which we pay to the government), market (buying and selling things and services), protect (to keep safe).

You can watch the original video in the Level 3 section.

What is the current market share of Chinese electric cars in the EU and how much is it expected to increase by 2025?

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