China hits back at EU tariff hike on electric vehicles
China has decried an EU decision to hike tariffs on Chinese electric vehicles as "a blatant act of protectionism".
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China has decried an EU decision to hike tariffs on Chinese electric vehicles as "a blatant act of protectionism".
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The French inflation report for May was released on Friday morning, coming in at 2.3%, a notch up from preliminary estimates, according to INSEE France. This was also slightly above April’s 2.2%, which was a two-and-a-half year low. Analysts had also estimated May’s figure to remain the same as April.
Germany could be trying to stop the European Union from putting increased tariffs on Chinese electric vehicles (EVs), that are reportedly due to come into force on 4 July, or at the very least, water them down.
The subsidies pumped by the Chinese government into battery electric vehicles (BEVs) are so distortive that extra tariffs are needed to counteract them.
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