Some of Europe’s biggest hitting economies are digesting a new phase in its trade war with China, as the EU finally hits the country’s carmakers with prohibitive tariffs.
Chinese automakers have been slapped with import tariffs reaching up to 38.1%, the European Commission confirmed on Wednesday. The tariffs follow a probe launched by the European Commission last year into anti-competitive subsidies for China’s biggest carmakers BYD, Geely, and SAIC.
