China-built EVs hit with EU tariffs; Nio says it may have to raise prices in Europe

Europe on Thursday confirmed tariff increases on electric vehicles imported from China to the continent with automakers criticizing the move and warning it could lead to price increases.

The European Union on Thursday confirmed its decision to hike tariffs on electric vehicles imported from China — with one automaker issuing fresh warnings that it may have to raise prices as a result.24/7 New York news stream: Watch NBC 4 free wherever you are The tariffs that take effect Friday are provisional and last for four months. In that time, EU member states must vote on so-called"definitive duties," which would last five years.that he hopes the two sides will"meet each other halfway, show sincerity, speed up the consultation process, and, on the basis of rules and reality, reach a mutually acceptable solution as soon as possible.

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