From Kitco: 2024-06-13 12:07:40

Shares of major European carmakers dropped on uncertainty about China’s response to the EU’s new tariffs on Chinese electric vehicles due to perceived subsidies from Beijing. Analysts warn that German luxury carmakers could be at risk, while others anticipate a balanced Chinese reaction. Auto index fell 2.3% to a four-month low. Cognac industry and auto suppliers also affected. China may retaliate against European dairy and pork imports. The automotive industry is closely following developments as they unfold.



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