NEWS

On June 8, according to the Observer website, Turkey announced that it would impose an additional tariff of 40% on cars imported from China, and also set the minimum tariff for each car at 7000 dollars. This policy will be implemented on July 7, aiming at curbing the country's import of Chinese cars to protect its local automobile industry. It is predicted that the European Union will also impose temporary tariffs on Chinese made electric vehicles from July 4th. The EU is the largest export market for Chinese electric vehicles, and if it raises tariffs, it may to some extent force Chinese car manufacturers to set up factories in Europe to save on shipping costs and potential customs duties