On July 4, the European Commission announced that it would impose temporary countervailing duties on electric vehicles (BEVs) from China after a nine-month countervailing investigation. The temporary tariff will take effect on July 5, 2024 and last for up to four months, during which time EU member states will vote to decide whether to convert it to a five-year formal tariff. It is reported that this temporary tariff is set differently for some Chinese producers, with BYD 17.4%, Geely 19.9%, and SAIC 37.6%. Other companies that cooperate but are not sampled will be subject to a weighted average tariff of 20.8%, while companies that do not cooperate will have a tax rate of 37.6%.
