China Reacts To Western EV Tarriffs

The People's Republic of China, the leading producer of electric vehicles in the world, has finally issued a formal response to the wave of tariffs its faced by the West.

Following the EU's collective tariff on imported Chinese EV's, now the PRC is discussing raising paralleled tariffs on EU products.

This has come after the European Union raised tariffs on Chinese EV's by as high as 45%.

China is fearing that its economy will rupture if the tariffs will continue. Chinese manufacturers have been particularly damaged from these high tariffs. As a result, China is trying to pressure the West to reducing tariffs by increasing tariffs themselves.