Europe Imposes Higher Tariffs on Electric Vehicles Made in China

Published On Oct 30, 2024, 4:57 AM

The European Union has implemented new tariffs on electric vehicles imported from China, with rates as high as 45%, aimed at protecting domestic automakers. The tariffs differentiate based on the subsidies received by various Chinese car manufacturers, starting from 7.8% for Tesla to 35.3% for SAIC Motor. The Chinese government has criticized these measures as protectionist, arguing they could hinder bilateral cooperation and efforts to combat climate change.

Read full article

Stock Forecasts

AI prediction results, not representative of any investment advice.

TSLA View TSLA chart on TradingView

Negative

With the implementation of these tariffs, European buyers are likely to face increased costs for Chinese electric vehicles. This could negatively impact sales of those vehicles in Europe, leading to a potential shift in consumer purchases towards domestic manufacturers. Additionally, the tariffs may also cause tensions in trade relations between the EU and China, potentially affecting companies reliant on imports from China.

Related News

A 'lot rides' on Big Tech earnings amid two busy weeks for markets

Oct 30, 2024, 4:00 AM

With a slew of market-driving news set to greet investors over the next week, market strategists tell Yahoo Finance that what Big Tech earnings say about the fundamental story behind the stock market rally will matter most.

MSFT

GOOG

Spain Opens Its Doors to China as a European Trade War Looms

Oct 30, 2024, 12:00 AM

Spain is forging a path as a “connector” country, drawing Chinese investment as it abstained from taking a position on European tariffs on electric cars.

TSLA

How Elon Musk Might Use His Pull With Trump to Help Tesla

Oct 29, 2024, 11:54 AM

Although Donald Trump has opposed policies that favor electric cars, if he becomes president he could ease regulatory scrutiny of Tesla or protect lucrative credits and subsidies.