The European Union will impose tariffs of up to 45% on China-made electric vehicles next month, despite objections from Germany, its largest economy. The move, backed by 10 EU members, comes after a year-long investigation into what the EU sees as unfair Chinese subsidies. The tariffs are expected to cost carmakers billions over five years.

On Friday, the EU said it would push forward with hefty tariffs on China-made EVs, even after the bloc's largest economy Germany rejected them. The dispute is its biggest trade row with Beijing in a decade.

The European Union unleashed one of its most powerful economic tools on China, imposing tariffs on electric vehicles in a move that increases the risk of retaliatory measures and backfiring on domestic consumers and companies.