<p><img src="https://hawk-oss.hawkinsight.com//picture//202406/1188865726_468.jpeg" style="width: 100%;">The Turkish Trade Ministry announced last weekend that it would impose an additional 40% tariff on cars imported from China.。The minimum additional tariff is $7,000 per vehicle, effective July 7.。-Advertising-The Ministry of Commerce stated that the additional tariffs on internal combustion engines and hybrid vehicles imported from China are aimed at protecting domestic automakers and solving the country's current account deficit。China is under increasing global trade scrutiny due to rising exports of electric vehicles。Several countries accuse Beijing of heavily subsidizing these exports to support its electric car makers.。The European Commission will decide this week to implement temporary additional tariffs。Meanwhile, the United States announced a 100% tariff on Chinese electric car imports last month.。-Advertising-According to the presidential decree, Turkey will levy at least 7 per car on cars imported from China from July 7,New Tariffs of $000。The Turkish Trade Ministry announced that the tariffs will apply to traditional cars and hybrid cars from China to protect the dwindling share of domestic production.。The ministry stressed that the decision was in line with efforts to address the country's current account deficit targets and boost domestic investment and manufacturing.。If the calculated 40% tariff on imported cars is less than $7,000, a minimum tariff of $7,000 will be imposed, basically banning cheap Chinese cars from entering the country by 2023.。The government is pushing for increased production and exports to tackle a chronic current account deficit of up to $45.2 billion last year.。-- ADD-Editorial comment Last Wednesday, Turkish Foreign Minister Hakan Fidan concluded a three-day visit to China and met with Foreign Minister Wang Yi and other officials.。The announcement of a 40% auto tariff a week later surprised many Chinese, as evidenced by the overreaction of local commentators and media posts。In addition, this week we should learn what tariffs the European Commission will impose on Chinese electric vehicles。It will likely not be as harsh as Turkey and the United States, as many local carmakers have lobbied in favor of China.。They have good reasons - Volkswagen China is the largest market, Mercedes is 20% controlled by Chinese companies (10% by state-owned BAIC and 10% by Geely founder Li Shufu), while Geely is wholly owned.。Owning a Volvo。In addition, many Chinese car manufacturers have set up car factories in the EU。BYD plans to build a plant in Hungary, Chery chose Barcelona as its first EU electric car factory, Great Wall Motor chose between Poland, Germany, the Czech Republic and Hungary, and Zero Run will be assembled at the Stellantis Polish plant。Source: Sina Finance</p>