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EU Levies Up to 38% Tariffs on China EVs, Trade Tensions Rise
BMWYYBMW(BMWYY) ZACKS·2024-06-14 04:25

EU's Tariff Decision The European Commission launched an investigation into subsidies provided to Chinese EV manufacturers last year to address the concerns of its domestic EV industry, which faces competitive pressure from subsidized Chinese imports. This move is part of the EU's broader strategy to protect its car industry, which supports millions of well-paid jobs and is critical to the region's economic stability. Chinese automakers have been expanding aggressively into Europe, leveraging their technolo ...