EU expected to impose import tariffs on Chinese electric vehicles

News Snapshot:

The EU is expected to notify China that it will impose tariffs on electric vehicle imports this week, firing the starting gun on a potential summer trade war with Beijing. A formal pre-disclosure of tariffs could happen as early as Wednesday, after a lengthy investigation into China’s state subsidies for its car manufacturing, which is predicted to conclude that massive support continues to be concentrated on the EV sector. Chinese manufacturers are already bracing themselves for new import duties, but experts anticipate that Beijing will retaliate with countermeasures that could hit a range of EU exports to the country, ranging...