EU slaps additional duties starting from 17% of up to 38% on Chinese EVs depending on which Chinese company

Now, a trade war with China has become much more likely after the U.S. started doing so before.

"The European Commission announced on Wednesday import tariffs of up to 38% on Chinese electric vehicles, after its investigation found that producers in China benefited from "unfair subsidies" throughout their supply chains -- from lithium refining to the transportation of the final products.

But in a sign that European Union members may struggle to find unity in how to treat China, Hungary released a statement afterward saying it "does not agree with punitive tariffs, as protectionism is not a solution," calling the decision "highly discriminatory.""

"BYD electric cars face import duties of 17.4%, while those from Geely Holding would be subject to 20% and state-owned SAIC Motor's models would be hit with 38.1%, the EC said in a statement. Chinese-made EVs already face 10% import tariffs to Europe."

EU slaps additional duties of up to 38% on Chinese EVs - Nikkei Asia Beijing threatens retaliation as negotiations begin to avoid application of new tariffs