NIO Stock Is Stuck in the Crosshairs of a China-EU Battle on EV Tariffs
NIO(NIO) Investor Place·2024-06-14 03:54
One of China’s mainline electric vehicle (EV) manufacturers, Nio (NYSE:NIO), saw its shares dip only slightly today. Yesterday, the European Union announced that it would impose tariffs on EVs imported from China of up to 38%, according to The New York Times. The move follows President Joe Biden’s quadrupling of U.S. tariffs on Chinese EVs to 100%. In the trailing five sessions, NIO stock lost 7% as shareholders digested the geopolitical framework. Today, the stock is down about another 1%.Per the NYT, the ...