Elisabeth Behrmann and Craig Trudell of Bloomberg report on Europe’s new EV tariffs.
- The European Union has announced a 48% tariff on Chinese EVs to protect domestic industry.
- America has imposed more stringent tariffs (100%) on Chinese EVs and and solar panels.
- Protectionist policies like these stifle competition and innovation and increase the cost of emissions abatement.
- If lawmakers want to diversify supply chains away from Beijing, they should open markets and increase competition.
“‘Shielding automakers from competition and stopping consumers from accessing affordable EVs today is not going to help them meet their climate goals, nor will it help their domestic industries,’ Aleksandra O’Donovan, who leads BloombergNEF’s Electrified Transport research team, said in an interview. ‘At the moment, it feels as though the decarbonization targets might not be the priority.'”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
