The EU has put tariffs on Chinese EVs and China is not too happy about it.

Hello, I'm Leanna Byrne.

And this is the Marketplace Morning Report from the BBC World Service.

Good morning.

We've had some breaking news.

The European Commission has confirmed

it's going to add tariffs to electric vehicles coming into the European Union from China.

Now it's a bit complicated as the taxes have been imposed after a probe into other Chinese imports were harming the industry in the

block and some companies have been hit with higher tariffs than others, the highest rate as

38.1%. Before the announcement China had warned the EU it would be harming itself if it

imposed the tariffs.

The BBC's Theollegge has more.

The European Commission is concerned that Chinese companies like BYD and

S.A. I.C. are able to sell electric cars at prices

European manufacturers struggle to compete with.

Last year it launched a formal investigation to look at

whether Chinese brands were benefiting from illegal subsidies,

allowing them to increase their share of the European market very rapidly.

Beijing has already warned it could retaliate, with tariffs of its own on luxury

European cars sold on the Chinese market.

See how like it there now let's do the numbers.

Chinese and Hong Kong shares are down ahead of this EU tariff announcement behind

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