EU Commission to postpone Chinese EV tariff decision, Reuters says

The European Commission will postpone its decision on Chinese electric vehicle tariffs until after the European Parliament election on June 9, a source familiar with the matter told Reuters on Wednesday. The provisional tariffs, which were expected to be announced by June 5, would be a sticker shock representing billions of dollars in new costs for Chinese electric car makers, the publication adds. The delay aims to keep the issue out of the election campaign phase, said German magazine Spiegel, which first reported the news. The European Parliament election is on June 6-9. Some U.S.-listed Chinese EV makers include Nio (NIO), XPeng (XPEV), Li Auto (LI) and Zeekr (ZK). Other makers of EVs include Tesla (TSLA), Ford (F), General Motors (GM), Toyota (TM), Honda (HMC) and Volkswagen (VWAGY).