The European Union has made good on its threat to impose provisional import duties of up to 37.6% on electric cars from China, the EU body reported in the Official Journal on Thursday.
Chinese companies affected include BYD, a major sponsor of the 2024 European football tournament in Germany, which will have to pay tariffs of 17.4%, Geely of 19.9% and SAIC of 37.6%.
The threat of interim tariffs on electric cars dates back to last month, after a European Commission investigation found evidence of illegal support through Chinese state subsidies.
With the risk of a trade war with Beijing looming, the EU’s sanctions will become final in four months unless China makes concessions. Until then, a bond will have to be paid instead of a tariff.
