Turkey has said that it will impose an extra 40% tax, with a minimum penalty of $7,000 per car, on automobile imports from China starting on July 7. This decision aims to shield Turkey's local automakers from unfair competition and preserve the country's current account balance. The decision is made in the context of widespread worries over China's rising exports of electric cars, which many claim Beijing is massively subsidizing to support the country's economy.
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