Chinese EV makers slapped with 'countervailing' EU tariffs

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Chinese EV makers slapped with 'countervailing' EU tariffs

seekingalpha07-06

Chinese EV stocks are trading defensively Friday after the European Union hit all battery electric vehicles imported from China with steep tariffs effective immediately. The action -- though expected...

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tan2023
·07-06
China should slapped EU hard with increase tariffs at least 50% for all imported goods into China.
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The action -- though expected...</p>\n\n<a href=\"https://seekingalpha.com/news/4122399-chinese-ev-makers-slapped-with-countervailing-eu-tariffs\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese EV makers slapped with 'countervailing' EU tariffs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese EV makers slapped with 'countervailing' EU tariffs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-06 02:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4122399-chinese-ev-makers-slapped-with-countervailing-eu-tariffs><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese EV stocks are trading defensively Friday after the European Union hit all battery electric vehicles imported from China with steep tariffs effective immediately.  The action -- though expected...</p>\n\n<a href=\"https://seekingalpha.com/news/4122399-chinese-ev-makers-slapped-with-countervailing-eu-tariffs\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4511","symbol_name":"特斯拉概念","start_time":0,"source_url":"https://seekingalpha.com/news/4122399-chinese-ev-makers-slapped-with-countervailing-eu-tariffs","article_id":"2449215212","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1789713010/image_1789713010.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2449215212","pubTimestamp":1720203731,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Chinese EV stocks are trading defensively Friday after the European Union hit all battery electric vehicles imported from China with steep tariffs effective immediately.  The action -- though expected","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4511":"特斯拉概念","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","BK4099":"汽车制造商","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","TSLA":"特斯拉","LU1548497426.USD":"安联环球人工智能AT Acc","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU0052750758.USD":"富兰克林中国基金A Acc","BK4505":"高瓴资本持仓","09866":"蔚来-SW","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","BK4551":"寇图资本持仓","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BK4574":"无人驾驶","BK4503":"景林资产持仓","NIO":"蔚来","LI":"理想汽车","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","BK4550":"红杉资本持仓","BK4592":"伊斯兰概念","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","BK4588":"碎股","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","BK4527":"明星科技股","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","BK4509":"腾讯概念","LU0056508442.USD":"贝莱德世界科技基金A2","BK4555":"新能源车","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","BK4585":"ETF&股票定投概念","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","XPEV":"小鹏汽车","BMWYY":"宝马汽车","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","SG9999015978.USD":"利安颠覆性创新基金A","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4563":"昨日强势股"},"translate_title":"中国电动汽车制造商被欧盟征收“反补贴”关税","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XPEV":1,"BMWYY":1,"NIO":0.8,"LI":0.8,"TSLA":0.6,"EVS.SI":0.6,"09866":0.6},"content_text":"Chinese EV stocks are trading defensively Friday after the European Union hit all battery electric vehicles imported from China with steep tariffs effective immediately.  The action -- though expected -- rattled shares of XPeng (NYSE:XPEV), Li Auto (NASDAQ:LI), NIO (NYSE:NIO) and BYD (BYDDF, BYDDY), and reverberated through stocks of non-China based manufacturers who are also impacted by the tariff.  After a nine-month investigation, the European Commission found that manufacturers who make EVs in China benefited from very generous, and uncompetitive subsidies from the government. The subsidies undercut EU-made vehicles and swelled the market share enjoyed by Chinese EVs from 3.9% in 2020 to 25% at the end of 2023.  “Based on the investigation, the Commission has concluded that the BEV value chain in China benefits from unfair subsidisation (sic), which is causing a threat of economic injury to EU BEV producers,” the commission said.  To adjust for the unfair advantage, the EU imposed “countervailing duties” as much as of 37.6% on vehicles exported into Europe from China. “Sampled” Chinese producers – those who cooperated in the EU probe – include SAIC (37.6%), BYD (BYDDF, BYDDY) (17.4%), and Geely (19.9%), on top of the 10% already in place.  Other BEV producers in China which cooperated in the investigation but were not sampled are subject to a 20.8% weighted average duty on imported cars. Non-cooperating companies face a 37.6% duty.  The duties will apply until a final vote is taken in November.  Volkswagen (VWAGY, VWAPY), BMW (OTCPK:BMWYY), and Tesla (TSLA) will face tariffs of 20.8% on their Chinese-made EVs, although those figures could be adjusted based on recent inspections of their Chinese facilities by EU regulators. The action could trigger retaliatory tariffs on European exports into China, namely on motor vehicle parts, electronic equipment, medicines, and luxury goods. “This is a naked protectionist act, creating and escalating trade frictions and destroying fair competition in the name of maintaining fair competition” a spokesperson from China’s Ministry of Commerce said earlier in the week, cited by CNBC.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":324479897628752,"gmtCreate":1720247936050,"gmtModify":1720249331972,"author":{"id":"3547083899189926","authorId":"3547083899189926","name":"tan2023","avatar":"https://community-static.tradeup.com/news/d3592f2d855ceef0f5a68c7d961d5a2c","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3547083899189926","idStr":"3547083899189926"},"htmlText":"China should slapped EU hard with increase tariffs at least 50% for all imported goods into China.&nbsp;","listText":"China should slapped EU hard with increase tariffs at least 50% for all imported goods into China.&nbsp;","text":"China should slapped EU hard with increase tariffs at least 50% for all imported goods into China.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324479897628752","repostId":2449215212,"repostType":2,"repost":{"id":"2449215212","pubTimestamp":1720203731,"share":"https://ttm.financial/m/news/2449215212?lang=&edition=fundamental","pubTime":"2024-07-06 02:22","market":"us","language":"en","title":"Chinese EV makers slapped with 'countervailing' EU tariffs","url":"https://stock-news.laohu8.com/highlight/detail?id=2449215212","media":"seekingalpha","summary":"Chinese EV stocks are trading defensively Friday after the European Union hit all battery electric vehicles imported from China with steep tariffs effective immediately.  The action -- though expected","content":"<html><body><div> <p>Chinese EV stocks are trading defensively Friday after the European Union hit all battery electric vehicles imported from China with steep tariffs effective immediately. </p> <p>The action -- though expected -- rattled shares of XPeng (<span>NYSE:XPEV</span>), Li Auto (<span>NASDAQ:LI</span><span>), NIO (</span><span>NYSE:NIO</span><span>) and BYD (BYDDF, BYDDY), and reverberated through stocks of non-China based manufacturers who are also impacted by the tariff. </span></p> <p>After a nine-month investigation, the European Commission found that manufacturers who make EVs in China benefited from very generous, and uncompetitive subsidies from the government. The subsidies undercut EU-made vehicles and swelled the market share enjoyed by Chinese EVs from 3.9% in 2020 to 25% at the end of 2023. </p> <p>“Based on the investigation, the Commission has concluded that the BEV value chain in China benefits from unfair subsidisation (sic), which is causing a threat of economic injury to EU BEV producers,” the commission said. </p> <p>To adjust for the unfair advantage, the EU imposed “countervailing duties” as much as of 37.6% on vehicles exported into Europe from China. “Sampled” Chinese producers – those who cooperated in the EU probe – include SAIC (37.6%), BYD (BYDDF, BYDDY) (17.4%), and Geely (19.9%), on top of the 10% already in place. </p> <p>Other BEV producers in China which cooperated in the investigation but were not sampled are subject to a 20.8% weighted average duty on imported cars. Non-cooperating companies face a 37.6% duty. </p> <p>The duties will apply until a final vote is taken in November. </p> <p>Volkswagen (VWAGY, VWAPY), BMW (OTCPK:BMWYY), and Tesla (TSLA) will face tariffs of 20.8% on their Chinese-made EVs, although those figures could be adjusted based on recent inspections of their Chinese facilities by EU regulators.</p> <p>The action could trigger retaliatory tariffs on European exports into China, namely on motor vehicle parts, electronic equipment, medicines, and luxury goods.</p> <p>“This is a naked protectionist act, creating and escalating trade frictions and destroying fair competition in the name of maintaining fair competition” a spokesperson from China’s Ministry of Commerce said earlier in the week, cited by CNBC. </p> </div> </body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese EV makers slapped with 'countervailing' EU tariffs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese EV makers slapped with 'countervailing' EU tariffs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-06 02:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4122399-chinese-ev-makers-slapped-with-countervailing-eu-tariffs><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese EV stocks are trading defensively Friday after the European Union hit all battery electric vehicles imported from China with steep tariffs effective immediately.  The action -- though expected...</p>\n\n<a href=\"https://seekingalpha.com/news/4122399-chinese-ev-makers-slapped-with-countervailing-eu-tariffs\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1789713010/image_1789713010.jpg","relate_stocks":{"BK4511":"特斯拉概念","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","BK4099":"汽车制造商","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","TSLA":"特斯拉","LU1548497426.USD":"安联环球人工智能AT Acc","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU0052750758.USD":"富兰克林中国基金A Acc","BK4505":"高瓴资本持仓","09866":"蔚来-SW","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","BK4551":"寇图资本持仓","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BK4574":"无人驾驶","BK4503":"景林资产持仓","NIO":"蔚来","LI":"理想汽车","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","BK4550":"红杉资本持仓","BK4592":"伊斯兰概念","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","BK4588":"碎股","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","BK4527":"明星科技股","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","BK4509":"腾讯概念","LU0056508442.USD":"贝莱德世界科技基金A2","BK4555":"新能源车","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","BK4585":"ETF&股票定投概念","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","XPEV":"小鹏汽车","BMWYY":"宝马汽车","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","SG9999015978.USD":"利安颠覆性创新基金A","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4563":"昨日强势股"},"source_url":"https://seekingalpha.com/news/4122399-chinese-ev-makers-slapped-with-countervailing-eu-tariffs","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2449215212","content_text":"Chinese EV stocks are trading defensively Friday after the European Union hit all battery electric vehicles imported from China with steep tariffs effective immediately.  The action -- though expected -- rattled shares of XPeng (NYSE:XPEV), Li Auto (NASDAQ:LI), NIO (NYSE:NIO) and BYD (BYDDF, BYDDY), and reverberated through stocks of non-China based manufacturers who are also impacted by the tariff.  After a nine-month investigation, the European Commission found that manufacturers who make EVs in China benefited from very generous, and uncompetitive subsidies from the government. The subsidies undercut EU-made vehicles and swelled the market share enjoyed by Chinese EVs from 3.9% in 2020 to 25% at the end of 2023.  “Based on the investigation, the Commission has concluded that the BEV value chain in China benefits from unfair subsidisation (sic), which is causing a threat of economic injury to EU BEV producers,” the commission said.  To adjust for the unfair advantage, the EU imposed “countervailing duties” as much as of 37.6% on vehicles exported into Europe from China. “Sampled” Chinese producers – those who cooperated in the EU probe – include SAIC (37.6%), BYD (BYDDF, BYDDY) (17.4%), and Geely (19.9%), on top of the 10% already in place.  Other BEV producers in China which cooperated in the investigation but were not sampled are subject to a 20.8% weighted average duty on imported cars. Non-cooperating companies face a 37.6% duty.  The duties will apply until a final vote is taken in November.  Volkswagen (VWAGY, VWAPY), BMW (OTCPK:BMWYY), and Tesla (TSLA) will face tariffs of 20.8% on their Chinese-made EVs, although those figures could be adjusted based on recent inspections of their Chinese facilities by EU regulators. The action could trigger retaliatory tariffs on European exports into China, namely on motor vehicle parts, electronic equipment, medicines, and luxury goods. “This is a naked protectionist act, creating and escalating trade frictions and destroying fair competition in the name of maintaining fair competition” a spokesperson from China’s Ministry of Commerce said earlier in the week, cited by CNBC.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":1,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}