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Chinese EV makers routing exports away from EU to avoid looming duties, trade monitor says

By Joanna Sopinska ( June 10, 2024, 15:47 GMT | Insight) -- Chinese electric-vehicle makers faced with the threat of countervailing duties on imports to the EU have started redirecting shipments to other destinations, including Brazil, Kyrgyzstan and South Korea, according to monitoring group Global Trade Alert. In the first quarter of this year, 32 percent of Chinese EV exports went to the EU, down from 42 percent in the same period in 2023, according to Trade Data Monitor.Chinese electric-vehicle makers faced with the threat of countervailing duties on imports to the EU have started redirecting shipments to other destinations, including Brazil, Kyrgyzstan and South Korea, according to monitoring group Global Trade Alert....

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