Europe may need to impose tariffs of up to 55% to curb Chinese EV imports: report
Publishing timestamp: 2024-04-30 02:48:49
Summary
Rhodium Group analysis suggests that the EU may need to impose tariffs of up to 55% on Chinese electric vehicles to curb imports into the bloc. Chinese EV makers, such as BYD, have cost advantages and could still make profits even with tariffs. The EU is investigating Chinese EV imports for subsidies, and experts predict Chinese EVs could make up a significant portion of the EU market in the coming years. To protect the EU's EV industry, Brussels may consider other measures such as restricting imports on national security grounds or increasing consumer subsidies for EU-made vehicles.
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Keywords: business, tesla inc, eu, breaking news: technology, business news, technology, world economy, electric vehicles, china,