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Europe Votes to Slap China-Made EVs With Tariffs—but Tesla Gets Off Easy
Despite opposition from Germany, the European Union will start imposing tariffs as high as 45 percent on Chinese-made electric vehicles. Elon Musk’s marque takes the smallest hit.
To directly approve or block the suggested tariffs, any side needed to amass support from 15 EU countries that represent more than 65 percent of the European population. By selling decent-quality cars at a more affordable price, these Chinese automakers have become a significant challenger to Europe’s homegrown auto industry, which has been an important economic pillar to the region. “The market share of Chinese automakers across Europe is still low, and its growth will likely be significantly slowed if the tariffs as proposed are confirmed,” says John Lee, Berlin-based director of East West Futures Consulting.
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