Chinese EV stocks NIO, LI, XPEV Rocked by Threat of Canadian Tariffs
$NIO Inc(NIO.US$ $XPeng(XPEV.US$ $Tesla(TSLA.US$ $BYD COMPANY(01211.HK$ The article reported that Canadian PM has faced pressure to enact tariffs on Chinese EVs following similar plans from the U.S. and European Union (EU). Last month, US announced that it would increase the tariff on Chinese EVs to 100% from 25% in order to protect domestic manufacturers from lower-priced vehicles. Earlier this month, the EU also disclosed that tariffs on vehicles shipped from China could rise to as high as 48% beginning on July 4.
My Take: Although Nio, Li Auto and XPeng currently don’t sell their vehicles in Canada, other governments around the world could take notice of the increased tariff activity for China-made vehicles and follow suit. Shares of Nio, Li Auto and XPeng are all down more than 40% year-to-date.
Related article:
1. EU imposes additional tariffs 21+10% on Nio and Xpeng
Related article:
1. EU imposes additional tariffs 21+10% on Nio and Xpeng
Source:
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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沉思的张飞 : there are no plans for Chinese EV exported to North America so far…
沉思的张飞 : Seems like they are hitting the air
ZnWC OP 沉思的张飞 : Obviously you didn't read the post carefully.
Although Nio, Li Auto and XPeng currently don’t sell their vehicles in Canada, other governments around the world could take notice of the increased tariff activity for China-made vehicles and follow suit.
102332870 : rock solid today
沉思的张飞 ZnWC OP : So what? Which list of countries fall in your “other government ”?
沉思的张飞 : Did you think EU would have the balls to put the same tax tariff on the Chinese EVs as USA![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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ZnWC OP 沉思的张飞 : When the US imposed 100% tariffs on Chinese EV stocks, someone made the same comments like you. Then "other government" followed suit - Turkey and EU and now Canada. It is logical to think more government will follow suit soon. China government can retaliate against EU but it can't face a Trade War with the whole world.
ZnWC OP 沉思的张飞 : Venting your frustration here will not reduce your loss investing in this stock.
ZnWC OP 102332870 : Nio share price is -51% YTD.