Punitive European Union tariffs on Chinese-made electric vehicles will be lowered following consultations with the companies affected, according to sources familiar with the matter.
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Tesla will once again be the big winner, having its proposed tariff rate lowered for a second time to 7.8 per cent from 9 per cent.
Chinese firms SAIC and Geely will have their rates lowered from 36.3 per cent to 35.3 per cent and from 19.3 per cent to 18.8 per cent, respectively.
These duties will be applied in addition to the base rate 10 per cent tariff the EU applies to all EV imports. The news was first reported by MLex, a regulatory news service.
Chinese government officials have been scrambling to strike a deal with the European Commission to end the dispute before the EU’s 27 member states hold a vote later this month that could see the duties written into law for a five-year period.