The European Commission has announced the imposition of additional tariffs on electric vehicles (EVs) built in the Chinese mainland, effective from October 31 for a duration of five years. This move marks a significant escalation in trade tensions between the EU and the Chinese mainland.
The Chinese mainland's Ministry of Commerce has vehemently criticized the EU's decision, arguing that the imposed tariffs are unjustifiable and violate established trade regulations. They assert that the EU's actions amount to unfair trade protectionism disguised as \"fair competition.\"
In recent years, electric vehicles from the Chinese mainland have experienced rapid growth, fueled by advanced research and development, a mature supply chain, and lower production costs. These factors have contributed to the increasing popularity of Chinese EVs among European consumers.
Despite the burgeoning success of Chinese EVs, the EU's tariffs are perceived as a threat to global free trade. Under the guise of protecting fair competition, the EU's actions could undermine the principles of open and free markets that drive international trade.
Reference(s):
EU's protectionist tariffs: A challenge to global free trade
cgtn.com
