Tesla to get lower EU tariff on its Chinese-made EVs

News Snapshot:

Tesla TSLA-Q is set to get a reduced tariff on its China-built cars exported to the European Union after the bloc’s executive revised on Tuesday its proposed punitive duties on imports of Chinese-made electric vehicles. The revisions are part of draft findings issued by the European Commission in the highest profile EU investigation of alleged Chinese subsidies, which has provoked threats of retaliation from Beijing. The Commission, which oversees the bloc’s trade policy, says the proposed tariffs are needed to level the playing field and counter what it says are unfair subsidies. It set a new reduced rate of 9...