EU threatens tariffs of up to 38% on Chinese electric cars from July

News Snapshot:

The European Union has said it will slap tariffs on Chinese made electric vehicles from next month, the latest strike in an escalating trade war between Europe, the US and China. The bloc has announced tariffs of up to 38.1%. This will come on top of the existing tariff of 10%. The move comes after an investigation by the European Commission into whether the Chinese government was subsiding its EV production. For months Europe has accused China of flooding the global market with EVs so cheap, that the rest of the world cannot compete. The commission says it's aiming to...