EU set to reveal tariff rates on Chinese EVs this week: The European Commission is set to disclose its tariff plans for Chinese EVs imports this week in a bid to curb the flooding of the bloc's market with subsidized vehicles, Reuters reports. Analysts predict the tariffs ranging from 10% to 25% — significantly lower rates compared to the recently issued 100% tariffs by the US.

Fears of retribution are rising: The move has muted support from German automakers who rely on Chinese sales and fear a blowback from Beijing, the newswire writes. “If provoked, the reaction [from China] and repercussions could lead to a trade war which would be devastating for a region that is still heavily dependent on Chinese dominated supply chains in order to achieve its lofty climate goals,” head of automotive research at Rho Motion Will Roberts told the newswire.

REMEMBER- Experts have said that the EU would need to impose 50% tariffs to curb imports of Chinese EVs, so the expected tariff rates will likely not be enough to discourage China-based producers from exporting to the bloc.

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