EU’s Chinese EV tariffs to hit consumers hardest – expert

The European Commission’s plan to introduce additional duties on Chinese electric vehicle (EV) imports has sparked concern among experts and businesses, with warnings that such measures could adversely affect consumers.

Josep Maria Gomes, an international business developer at the Barcelona Chamber of Commerce, confirmed these concerns, emphasising that the proposed tariffs could hinder economic growth rather than promote it.

The Commission revealed on June 12 that it intends to impose protectionist duties on Chinese battery electric vehicles, which could range from 17.4 per cent to 38.1 per cent.

This move has drawn significant opposition from various European governments and businesses that fear the economic repercussions.

Gomes warned that consumers would bear the brunt of these trade tensions, highlighting the historical failure of protectionism to create a more competitive economy or safeguard jobs.

He stressed that obstructing investment through tariffs or other barriers, whether on electric cars, batteries, or other Chinese products, would ultimately harm Europe itself.

Attribution:  Xinhua.