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BRUSSELS, 12 Jun (AP) \u2014 The European Union moved Wednesday to hike tariffs on Chinese electric vehicles, escalating a trade dispute over Beijing\u2019s subsidies for the exports that Brussels worries is hurting domestic automakers.<\/p>\n
The European Commission, the EU\u2019s executive arm, said it would impose provisional tariffs that would result in Chinese automakers facing additional duties of as much as 38%, up from the current level of 10%.<\/p>\n
The commission said it reached out to Chinese authorities to discuss the findings of its investigation into the subsidies and \u201cexplore possible ways to resolve the issues.\u201d<\/p>\n
\u201cShould discussions with Chinese authorities not lead to an effective solution,\u201d the new rates would take effect on a provisional basis by July 4, the commission said in a press release.<\/p>\n
Electric cars are the latest flash point in a broader trade dispute over what Brussels says is China\u2019s unfair state support for green tech exports that also include solar panels, batteries and wind turbines.<\/p>\n
Imports of Chinese-made EVs to the European Union have skyrocketed in recent years. They include vehicles from Western brands that have auto plants in China, including Tesla and BMW.<\/p>\n
But EU officials complain that Chinese automakers like BYD and SAIC are increasing market share and undercutting European car brands on price thanks to Beijing\u2019s massive subsidies.<\/p>\n
The commission said an investigation it opened last year into China\u2019s EV subsidies found that China\u2019s battery electric vehicle value chain \u201cbenefits from unfair subsidization, which is causing a threat of economic injury to EU BEV producers.\u201d<\/p>\n
The extra tariffs would vary by company. BYD would face an additional 17.4% charge. Geely, which owns Sweden\u2019s Volvo, would be hit with a further 20%. For SAIC, it would be 38.1% extra.<\/p>\n
Chinese Foreign Ministry spokesperson Lin Jian, speaking at a daily briefing, blasted the EU\u2019s investigation as \u201dtypical protectionism\u201d and said Beijing would \u201ctake all measures necessary to protect our legitimate rights and interests.\u201d<\/p>\n
U.S. President Joe Biden slapped major new tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment last month. Biden said that Chinese government subsidies ensure the nation\u2019s companies don\u2019t have to turn a profit, giving them an unfair advantage in global trade.<\/p>\n
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