EU automakers slip as China threatens retaliatory tariffs on luxury cars

News Snapshot:

The Chinese government threatened retaliatory tariffs on imports of European Union and US-made vehicles, following both the EU’s move to investigate Chinese EV subsidies and the White House’s tariff escalation on Chinese-made goods. In a post on X, the China Chamber of Commerce to the EU (CCCEU) said it was “informed by insiders that China may consider increasing temporary tariff rates on imported cars equipped with large-displacement engines.” The CCCEU cited a Global Times interview with China’s chief automotive strategy expert claiming the temporary tariff rate could be raised to a maximum of 25%. The current duty rate for imported...