Europe, China Eye EV Price Pact To Avert Trump Tariff Escalation After Tesla CEO Elon Musk Pushes For Zero EU Tariffs Amid Declining Sales

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Europe, China Eye EV Price Pact To Avert Trump Tariff Escalation After Tesla CEO Elon Musk Pushes For Zero EU Tariffs Amid Declining Sales - Benzinga

Quick Summary:

The potential pricing agreement would replace EU tariffs currently ranging from 17.0% for BYD (OTC:BYDDY) to 35.3% for SAIC, on top of the standard 10% car import duty imposed last October.“Any minimum prices would need to be as effective and enforceable as the EU tariffs,” Sefcovic has previously stated, noting that ...

The European Union and China have agreed to explore setting minimum prices for Chinese-made electric vehicles as an alternative to tariffs imposed last year, a European Commission spokesperson said Thursday.

What Happened: EU Trade Commissioner Maros Sefcovic spoke with Chinese Commerce Minister Wang Wentao within the past 24 hours, with negotiations set to begin immediately, reported Reuters.