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The strange case of EU tariffs on Chinese EVs
Companies affected don’t like them, but their impact could end up being positive.
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Retaliatory actions by Beijing – either in the form of tit-for-tat tariffs on car imports from Europe or a withdrawal of subsidies – would hurt them badly.
PHOTO: REUTERS
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What can be said of a policy of tariffs to protect an industry that does not want those tariffs? That is the bizarre fate that has befallen the European Union’s carmakers, who, from July onwards, are supposed to be protected by duties against Chinese-made electric vehicles (EVs).
In another apparently puzzling development, the stock prices of most Chinese EV makers rose after the tariffs against them were announced on June 12.
