EU targets Chinese EVs ahead of Xi Jinping's visit [Yahoo! Finance]
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Source: Yahoo! Finance
The News The EU is “ advancing ” its probe into Chinese electric vehicles as the bloc aims to curb China's overcapacity of green tech ahead of Xi Jinping's visit to Europe next week, EU trade chief Valdis Dombrovskis told Politico. Dombrovskis hinted that Brussels could impose tariffs on Chinese EVs “before the summer break” as European firms struggle to compete with Chinese goods. Those actions seem more likely after the European Commission warned Chinese EV makers BYD, SAIC, and Geely that they had provided insufficient data in the anti-subsidy investigation, Reuters reported. European lawmakers are still hoping they can convince Xi to scale back his protectionist economic model to allow for more equitable competition in green tech. But China-friendly countries, notably Hungary — which plays a significant role in Europe's own EV production — are making it more challenging for Brussels to counter Chinese competition. Tariffs may also do little to slow Chinese imports, some ana
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