The EU’s announcement of sharply increased tariffs on Chinese electric vehicle imports marks a major setback to President Xi Jinping’s efforts to persuade Brussels not to follow Washington’s increasingly hardline stance on trade.
The planned tariffs, which follow a months-long investigation into Chinese subsidies, were decided despite warnings from Beijing that imposing punitive measures would disrupt trade and economic co-operation.
The tariffs vary across companies but will be as high as 48 per cent for carmakers judged not to have co-operated with the EU probe. Though this is well below the 100 per cent imposed by the US last month, it poses a new barrier to a fast-growing market for Chinese vehicles.
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