Nio Slams Unreasonable US, EU Tariffs

William Li, the founder of Nio Inc., criticized the United States and the European Union for their irrational efforts to impose tariffs on electric vehicles and urged them to work with China rather than oppose it. According to industry publication Dongchedi, Li stated in a recent interview that increasing the use of electric vehicles is an essential step in halting climate change and achieving sustainable global development, and any actions taken to obstruct this process would be foolish. The European Union has suggested imposing tariffs on imported electric vehicles from China, alleging that Chinese companies unfairly profit from government subsidies and are overproducing electric vehicles and flooding the European market with them. Early next month, the bloc is anticipated to cast a vote on the resolution.

Beijing has been in close negotiations with the EU to discuss alternatives to tariffs and has dismissed the EU's anti-subsidy probe as protectionist. There has been no agreement reached in the talks so far regarding a system to regulate export volumes and prices.

Since President Joe Biden announced 100% tariffs on Chinese electric vehicles in May, Chinese automakers are also subject to higher duties in the US, which go into effect this month. According to Li, the actions taken by the EU and the US to levy tariffs on Chinese electric vehicles demonstrate the nation's advantages and competitiveness in the industry. But he asserted that politicizing economic behavior is neither appropriate nor helpful for the industry's sound global development.