EU is expected to unveil tariff plans for Chinese EVs this week

This week, the European Union is expected to reveal provisional tariff rates for Chinese electric vehicles.

"We're seeing the Chinese automakers actually setting up factories in Europe. So there are options here, and I'm sure there's back channels happening here," said Anthony Sassine, senior investment strategist at KraneShares, on CNBC's "Squawk Box Asia" Tuesday. Anthony Sassine, senior investment strategist at KraneShares, on Tuesday said he expects the tariff rates to be "between 10% and 20%" but "could see this being on the higher end of the 20%" after thein October into subsidies given to EV makers in China. The EU alleged such subsidized imports "posed an economic threat to the EU's EV industry."

China's EV industry has boomed thanks to incentives and support from the Chinese government, raising overcapacity concerns from authorities in the U.S. and Europe.Expanding in EuropeCedomir Nestorovic, professor of geopolitics at ESSEC Business School, said "scores of Chinese manufacturers are now scouting the EU."

Car Car Latest News, Car Car Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EU is expected to unveil tariff plans for Chinese EVs this weekThe EU alleged China’s subsidized vehicles “posed an economic threat to the EU’s EV industry.”
Source: NBCLA - 🏆 319. / 59 Read more »

Mercedes chief expects EU decision on Chinese EVs tariffs soonGerman automakers await an EU decision on new import tariffs on cars from China. Their largest market could retaliate.
Source: therealautoblog - 🏆 528. / 51 Read more »

Polestar Boss Puzzled By U.S. Tariffs Imposed On Chinese EVs, Wants “Fair Trade”The company believes its production plans will protect it from tariffs on electric vehicles imported from China
Source: Carscoop - 🏆 306. / 63 Read more »