Turkey will raise tariffs on all categories of vehicles imported from China by 40% in a bid to curb Chinese imports and reduce its current account deficit. The additional amount to be charged to Chinese models will be at least $7,000, according to a presidential decision published in the Official Gazette. The decision will be effective after 30 days. China is facing increasing trade pressures worldwide due to the high volume of pure electric cars and other types of vehicles it exports. Many countries claim that Chinese all-electric cars and other types of vehicles are heavily subsidized by Beijing to prop up the Chinese economy, Reuters reports. The European Commission is expected to announce next week whether to impose temporary additional duties on imported Chinese all-electric cars. Turkey had raised customs duties on Chinese electric vehicles in 2023 to support its first domestically produced EV […]
Source: News Beast
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
