WORLD News

EU tariffs failed to stop influx of Chinese EV’s

Published by
Athens Bureau

China’s electric vehicle shipments to the European Union defied the bloc’s newly imposed tariffs to report a surprise uptick in December, prompting market worries that Sino-European trade tensions could escalate further in 2025.

According to Chinese customs data released on Monday, the volume of Chinese electric vehicles exported to the EU rose to 32,849 units in December, up 8.3 percent year over year.

The gains reversed two consecutive months of sharp declines, largely driven by the EU’s decision to raise tariffs on Chinese EVs by up to 45 percent starting in October. Sales in October plunged almost 40 percent, while November sales were down by a quarter.

The EU remained the top buyer of Chinese EVs in 2024, purchasing nearly 30 percent of China’s outbound shipments. However, the 27-nation bloc saw its total annual imports of Chinese EVs fall 6 percent year over year in 2024.

According to the data, Belgium, Germany, Spain, the Netherlands, and Romania were the major European buyers of Chinese EVs.

Analysts warned that there was a high risk of a further deterioration in EU-China ties this year, with protectionist policies potentially targeting more trade products.

Ads1

Ads1
Athens Bureau

Recent Posts

Athina Onassis: Recent Developments in Her Life and Financial Situation

Athina Onassis's financial situation has become a topic of concern, as her wealth has significantly…

10 minutes ago

Reimagining the British Museum without the Parthenon Sculptures

The British Museum has just unveiled the winning design in an international architectural competition for…

1 hour ago

Greek PM Mitsotakis Holds Phone Call with Ukrainian President Zelensky

Mitsotakis underscored Greece’s support for Ukraine’s autonomy in peace talks and confirmed his attendance at…

4 hours ago

Significant Archaeological Find Unearthed in Greek City of Gela

In the ancient Greek city of Gela, Sicily, a significant archaeological discovery has emerged: a…

6 hours ago

Postecoglou Dismisses Relegation Talk as Spurs Find Form with Third Consecutive Win

Tottenham manager Ange Postecoglou has dismissed earlier concerns of relegation as "ridiculous" after Spurs' recent…

8 hours ago

Pope Francis Faces Critical Health Challenges Following Severe Respiratory Attack

Pope Francis is in critical condition after suffering a severe respiratory crisis that required high-flow…

8 hours ago