EU Imposes New Tariffs on Chinese EVs, Investors Remain Upbeat
The European Union's tariff hikes on Chinese electric vehicles prompt a mixed market response and potential trade tensions.
- The EU will impose tariffs up to 38.1% on Chinese EV imports starting next month.
- BYD, Geely, and SAIC are the primary targets, with varying tariff rates.
- Despite the announcement, shares of most Chinese EV makers rose, with BYD surging up to 8.8%.
- China has threatened to file a WTO suit and consider retaliatory measures.
- Analysts suggest that the impact on BYD will be minimal compared to other Chinese automakers.
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