Consumer Discretionary Sector and Industry Performance

Updated 7/4/2024 Talks with China on EV tariffs underway: Dombrovskis

Valdis Dombrovskis, executive vice president of the European Commission, says talks with China are underway after an investigation found that China is subsidizing its electric vehicle industry to the point of causing economic harm to EU carmakers. His comments come as the bloc moved forward with plans to impose temporary tariffs on electric vehicles imported from China that would raise rates by up to 48%, a move likely to exacerbate trade tensions with Beijing. Dombrovskis spoke on Bloomberg Television. (Source: Bloomberg)