The tariffs imposed means that EVs built in China will see 45% duties, which will go into effect next month for five years. The vote went through with ten members backing it while five opposed, alongside twelve abstentions. Of those who opposed, the standout of course is Germany.
It looks like China and the EU are looking to find ways to compromise but I wouldn’t hold my breath expecting a quick resolution.
This article was written by Justin Low at www.forexlive.com.
