Leaders in the European Union are a step closer to slapping additional tariffs on battery electric vehicles from China. They want to protect the market from what they describe as Beijing’s “injurious subsidization.”
On Friday, the European Commission voted in favor of imposing additional tariffs of up to 35.3 percent. That’s on top of a 10-percent tentative levy imposed since July.
Sources say the idea was backed by 10 members, including France. The EU’s largest economy, Germany, and four other members voted against. Spain and 11 others abstained.
The measure is slated to start at the end of the month and run for five years. But officials also say there’s still time to find a compromise through dialogue.
A Chinese commerce ministry spokesperson released a statement accusing the EU of “unfair” and “protectionist” practices, while also acknowledging the bloc’s willingness to talk.
The two sides are going tit-for-tat on trade. Beijing has been carrying out an anti-dumping probe into pork and cheese from Europe in response to the EU’s tariffs.