BRUSSELS, July 4 (Bernama-dpa) -- The European Union (EU) has enforced its threat to impose provisional tariffs on imports of electric cars from China of up to 37.6 per cent, the bloc's Official Journal announced on Thursday, reported German news agency dpa.
Chinese companies affected include BYD, a major sponsor of the Euro 2024 football tournament in Germany, which faces tariffs of 17.4 per cent, Geely at 19.9 per cent, and SAIC at 37.6 per cent.
The threat of provisional tariffs on electric cars dates back to last month, following an investigation by the European Commission that found evidence of illegal support from Chinese state subsidies.
With the risk of a trade war with Beijing looming, the punitive EU measures will become final within four months unless China makes concessions. Until then, a security deposit must be paid instead of a tariff.
-- BERNAMA-dpa
