China-Europe Détente Could Hurt Tesla, Help BYD
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As tariffs spiral between the U.S. and China, between China and Europe they are showing early signs of falling, potentially helping BYD and hurting Tesla. The European Commission in Brussels, which handles trade on behalf of the European Union, confirmed Friday it is in talks with Beijing about an alternative to its current tariffs on Chinese EVs. In a conversation Tuesday, EU trade commissioner, Maroš Šefčovič, and Chinese Commerce Minister Wang Wentao discussed the idea of price undertakings, whereby manufacturers agree to minimum prices, a spokesman said.
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