EU sets duties on Chinese electric vehicles of up to 38%

BRUSSELS (Reuters) - The European Commission announced on Wednesday that it would impose provisional duties on imports of Chinese electric vehicles of up to 38.1%, a move likely to draw stern words and possible retaliation from China.

The Commission, which oversees EU trade policy, said the tariffs, likely to be in place by July, would be 17.4% for BYD, 20% for Geely and 38.1% for SAIC. Other companies cooperating with the investigation would face a tariff of 21% and non-cooperating companies 38.1%.

(Reporting by Philip Blenkinsop; Editing by Sudip Kar-Gupta)