EU member states have agreed to impose tariffs of up to 45 per cent on imports of Chinese electric vehicles, ratcheting up the biggest trade dispute between the economic superpowers in a decade.
In a vote on Friday, a sufficient number of members backed a European Commission proposal to hit imports with anti-subsidy tariffs of up to 35.3 per cent, on top of an existing 10 per cent levy, despite vocal opposition from Germany and Hungary.
The decision follows a year-long investigation into the EV market, during which the commission found subsidies to Chinese carmakers and their suppliers, including loans from the country’s banks.
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