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2/14, 8:54 AM (Source: TeleTrader)
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EU mulls counter auto tariffs on US, targets Tesla - report

The European Union is said to be waiting the final decision on whether the United States will impose tariffs on auto imports from the EU; if so, the bloc plans to strike back with tariffs, WirtschaftWoche reported on Thursday, citing sources familiar with the matter. Among those affected will be the US electric car giant Tesla.

"The electric cars from Tesla are on the list of EU countermeasures," the sources in the EU said. If imposed, the levies would amount to €20 billion. So far, Brussels is keeping the list of American companies to target with countermeasures a secret.

Last week, it was reported that the US Department of Commerce is considering three different options for tariffs on car imports from Europe: increasing them from 2.5% to 10%; limiting duties to technologically advanced cars, such as electric cars; and levying 25% tariffs on all EU-imported cars and auto parts.

Breaking the News / GG