EU Approves Chinese EV Tariffs Despite German Opposition

The European Union has imposed tariffs on Chinese electric vehicles, aiming to protect local manufacturers amid concerns over unfair subsidies.

The EU has voted to impose tariffs ranging from 7.8% to 35.3% on Chinese-made electric vehicles, citing unfair subsidies.
Germany, home to Europe's largest auto industry, opposed the tariffs due to fears of Chinese retaliation affecting its exports.
Chinese EVs have rapidly gained market share in Europe, accounting for 19% of the market in 2023, with expectations to rise further.
The EU's move reflects a broader Western shift towards protectionist trade policies in response to China's growing economic influence.
Negotiations between the EU and China continue, with potential revisions to the tariffs if alternative trade solutions are agreed upon.