Sean Foo: As EU Confirms Economic Punishments on China, US Panics Over Impending Iran Oil Attack

In a major turn of events that could reshape the dynamics of the global automotive landscape, the European Union has formally voted to impose heavy tariffs on electric vehicles (EVs) imported from China. This decision comes in the wake of rising concerns about trade imbalances and the competitiveness of European automotive manufacturers. However, while the intention behind this move may appear rooted in protecting local industries, the ramifications for the EU economy, particularly Germany’s, could be much more adverse than anticipated. The imposition of tariffs on Chinese EVs signals the EU’s growing apprehension over the influx of affordable electric vehicles…