(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Sangjin] The European Union (EU) has decided to increase the tariff on Tesla vehicles produced in China from 10% to 19%, effective from November.

On August 20, the European Commission announced that it had communicated the final draft of the tariff decision to stakeholders, as part of an ongoing anti-subsidy investigation targeting Chinese electric vehicles.

An EU official explained that, based on an individual investigation requested by Tesla, the countervailing duty rate reflecting the level of subsidies received by Tesla in China was set at 9 percentage points.

Currently, all electric vehicles produced in China and exported to the EU are subject to a flat tariff of 10%. The newly announced draft tariff is a follow-up to additional investigations conducted since the preliminary results were released in June.

The final tariff draft will undergo a 10-day consultation period before being voted on by the 27 EU member states and published in the EU Official Journal on October 30, with implementation set for five years.

Earlier, based on preliminary findings, the EU had proposed provisional countervailing duty rates ranging from 17.4% to 37.6%. The final draft announced today adjusts these rates downward to a range of 17.0% to 36.3%.

As a result, if the additional tariff is imposed, the final tariff rate on Chinese-made electric vehicles will increase to between 27.0% and 46.3%.

The EU official noted that the adjustment reflects corrections for technical errors based on validated feedback from stakeholders since the July announcement.

 

 

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