Tariffs and subsidies will be a fundamental issue for the Chinese and global automotive industry in 2024。The latest report suggests the EU may have just agreed to lower tariffs due to take effect in July 4 - but don't react until you see the numbers!。

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On June 12, the European Union announced that it would impose tariffs on Chinese electric vehicles imported into the free trade zone from July 4。This is the result of a ten-month investigation by the European Commission.。From July 4th, BYD auto import tariffs 17.4%, Geely Automobile Import Tariff 20%, SAIC Motor Import Tariff 38.1%, other producers cooperating with the survey import duties of 21%, did not attract 38.1%。

MG Cyberster electric sports car at the MG booth of IAA Mobility 2023 in Munich, Germany。However, Bloomberg reported on June 26, citing a person familiar with the matter, that these tariffs are now about to be cut.。This may be a direct result of China's Ministry of Commerce's announcement on June 22 that China and the EU have agreed to start a dialogue on tariff issues.。According to Bloomberg, tariffs on SAIC and non-cooperative businesses will now fall to 37.6%。Geely will now pay 19.9% tax rate, while BYD's rate remains unchanged。For companies that cooperate but do not have separate tariffs, since the figure is a weighted average, the amount will be reduced to 20.8%。It is worth noting that these tariffs are imposed in addition to the 10% import tariff already in place.。-Advertising-For Chinese manufacturers, complying with the EU investigation is a heavy task. They need to provide detailed battery components and formulations, as well as a breakdown of manufacturing costs for raw materials and supply chains。These details and scope sources are allegedly unprecedented。BYD Atto 3 electric SUV on display at the BYD booth at IAA Mobility 2023 in Munich, Germany。A few days ago, Canada had news that the country would join the United States and the European Union in imposing tariffs on Chinese electric vehicles.。Under current rules, Chinese imports of electric vehicles into Canada are subject to a 6% tariff.。Canadians can enjoy up to 5,000 Canadian dollars ($3,650) for all-electric or plug-ins-the federal government provides further incentives for hybrid electric vehicles, and the provincial government also provides further incentives。However, by 2023, sales of pure electric vehicles, plug-in hybrid vehicles and fuel cell vehicles will only account for 11% of new car sales。On June 24, the Canadian government announced that it would open a 30-day public consultation period from July 2.。"Chinese producers are intentionally creating a global oversupply to the detriment of EV producers around the world, including in Canada," the deputy minister said.。Prime Minister Cristia Freeland announced the consultation.。Doug Ford, the governor of Canada's most populous province of Ontario, has called for a 100 percent tariff to protect auto production jobs in the province.。- ADVERTISING - In May, the United States moved tariffs on Chinese electric vehicles from 27.5% to 102.5%。It is possible that more countries such as Canada will join the EU and the US in imposing tariffs, but others such as Norway have said they do not intend to do so.。Sources: Fast Technology, Bloomberg, Al Jazeera, Autohome,

<p><img src="https://hawk-oss.hawkinsight.com//picture//202407/125657754_912.jpg" style="width: 100%;">Tariffs and subsidies will be a fundamental issue for the Chinese and global automotive industry in 2024。The latest report suggests the EU may have just agreed to lower tariffs due to take effect in July 4 - but don't react until you see the numbers!。-Advertising-On June 12, the European Union announced that it would impose tariffs on Chinese electric vehicles imported into the free trade zone from July 4。This is the result of a ten-month investigation by the European Commission.。From July 4th, BYD auto import tariffs 17.4%, Geely Automobile Import Tariff 20%, SAIC Motor Import Tariff 38.1%, other producers cooperating with the survey import duties of 21%, did not attract 38.1%。MG Cyberster electric sports car at the MG booth of IAA Mobility 2023 in Munich, Germany。However, Bloomberg reported on June 26, citing a person familiar with the matter, that these tariffs are now about to be cut.。This may be a direct result of China's Ministry of Commerce's announcement on June 22 that China and the EU have agreed to start a dialogue on tariff issues.。According to Bloomberg, tariffs on SAIC and non-cooperative businesses will now fall to 37.6%。Geely will now pay 19.9% tax rate, while BYD's rate remains unchanged。For companies that cooperate but do not have separate tariffs, since the figure is a weighted average, the amount will be reduced to 20.8%。It is worth noting that these tariffs are imposed in addition to the 10% import tariff already in place.。-Advertising-For Chinese manufacturers, complying with the EU investigation is a heavy task. They need to provide detailed battery components and formulations, as well as a breakdown of manufacturing costs for raw materials and supply chains。These details and scope sources are allegedly unprecedented。BYD Atto 3 electric SUV on display at the BYD booth at IAA Mobility 2023 in Munich, Germany。A few days ago, Canada had news that the country would join the United States and the European Union in imposing tariffs on Chinese electric vehicles.。Under current rules, Chinese imports of electric vehicles into Canada are subject to a 6% tariff.。Canadians can enjoy up to 5,000 Canadian dollars ($3,650) for all-electric or plug-ins-the federal government provides further incentives for hybrid electric vehicles, and the provincial government also provides further incentives。However, by 2023, sales of pure electric vehicles, plug-in hybrid vehicles and fuel cell vehicles will only account for 11% of new car sales。On June 24, the Canadian government announced that it would open a 30-day public consultation period from July 2.。"Chinese producers are intentionally creating a global oversupply to the detriment of EV producers around the world, including in Canada," the deputy minister said.。Prime Minister Cristia Freeland announced the consultation.。Doug Ford, the governor of Canada's most populous province of Ontario, has called for a 100 percent tariff to protect auto production jobs in the province.。- ADVERTISING - In May, the United States moved tariffs on Chinese electric vehicles from 27.5% to 102.5%。It is possible that more countries such as Canada will join the EU and the US in imposing tariffs, but others such as Norway have said they do not intend to do so.。Source:Fast Technology, Bloomberg, Al Jazeera, Autohome,</p>