Hyperdrive
EU to Impose Tariffs Up to 45% on Chinese Electric Vehicles
- The new tariffs will be in effect for a period of five years
- China has threatened tariffs on Europe’s car and dairy sectors
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The European Union voted on Friday to impose tariffs as high as 45% on electric vehicles from China, threatening a broader trade conflict with Beijing which has already vowed to protect its companies.
Shares in European automakers rose after the vote.