LONDON - The European Commission 's decision to slap tariffs on imported Chinese EVs could have far-reaching effects for European automakers, as a possible trade war would hurt not only their business in China but also their own imports of Chinese-made cars.
Also, China's BYD and Chery have already announced plans to build cars in Europe, which would avoid the tariffs. VW shares fell 1.2% on Wednesday, among the biggest decliners on the euro zone's blue-chip stock index, BMW dropped 0.9% to its lowest since November and Mercedes was down 0.5% at its weakest since February.
But the tariffs will also hit the cars that European automakers have made in China for European consumers.
The European Commission Automakers Oliver Zipse Chinese Imports Europe Chinese Market
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