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EU Grants 1st Additional Tariff Exemption for CN-Made EVs Under Price Floor & Quota
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The European Commission has approved an application from Volkswagen's Cupra brand, allowing its China-produced Tavascan SUV coupe to be exempted from import tariffs in exchange for adopting a minimum price and quota mechanism, marking the first time the EU has accepted such a commitment, according to Reuters. As the EU decided to impose additional tariffs on Chinese-made electric vehicles in 2024, the fully electric Tavascan, in addition to the existing 10% tariff, is supposed to be subject to an additional 20.7% tariff. AASTOCKS Financial News |
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