EU to impose additional tariffs on imported Chinese EVs, Reuters reports

The European Commission will impose extra duties of up to 38.1% on imported Chinese electric cars beginning in July, Reuters’ Philip Blenkinsop reports. Less than a month after the U.S. quadrupled tariffs for Chinese EVs to 100%, the EU said it will impose additional duties of 17.4% for BYD, 20% for Geely, and 38.1% for SAIC on top of the existing 10%, over what it said were excessive subsidies, Blenkinsop writes. Publicly traded companies that operate in the space include Nio (NIO), XPeng (XPEV), Li Auto (LI), Tesla (TSLA), and BMW (BMWYY).