Northern Star Appoints New CEO as Activist Elliott Pushes for Leadership Overhaul 
Trump Administration to Launch Voluntary AI Standards for Frontier Models 
Smartphones are helping filmmakers tell the stories the movie industry overlooks 
Anthropic Brings Claude AI Models to Microsoft Azure Foundry With NVIDIA Blackwell GPUs 
Australia Sues Amazon Over Prime Video Ads and Subscription Terms 
Sodexo Raises 2026 Revenue Outlook After Strong Q3 Sales Beat 
South Korea Alleges Google Abused Android App Store Dominance, Eyes Major Fine 
ShareChat Eyes 2027 IPO After Reaching Operational Profitability, Report Says 
Chip Stocks Rally as Samsung and SK Hynix’s $1.3 Trillion Investment Plan Boosts AI Optimism 
TSMC CoWoS Capacity Forecast Raised as Mizuho Sees AI Server CPU Demand Surging Through 2027 
Nvidia Stock Rises as SemiAnalysis Sees AI Data Center Revenue Beating Wall Street Forecasts 
Super Micro Shares Slide After Taiwan Raids Over Alleged Nvidia AI Chip Smuggling Probe 
US Egg Producers Settle Price Manipulation Probe, Agree to Pay $3.3 Million and Donate 53 Million Eggs 
Lenovo Shares Slide as AI-Driven Memory Demand Signals Higher DRAM and NAND Prices 
Anthropic Restores Claude Fable 5 and Mythos 5 After U.S. Lifts AI Export Controls 
Apple Challenges India Antitrust Probe, Says CCI Copied Rivals’ Claims in App Store Case 
Microsoft Reportedly Plans New Job Cuts Across Sales, Consulting, and Xbox 
Tesla and BYD are emerging as major winners in the global EV race following the EU’s decision to drastically reduce tariffs on Chinese imports, a strategic shift that could redefine market dynamics.
EU Slashes Tariffs on Chinese EV Imports
The European Union has reduced its planned tariff rates on electric vehicle imports, which is good news for Chinese-made EVs. The revised EU tariffs will have a positive impact on several automakers, including Tesla and BYD. Take a peek at these updated rates, Electrek reports.
Imported electric vehicles manufactured in China will now be subject to higher tariffs, according to the European Commission.
The European Union reduced tariffs on electric vehicle imports from China to 9% to 36.3% as part of its continuing anti-subsidy probe. From June's suggested 38.1%, that's a decrease from the original 17.4%.
Tesla’s Tariff Cut is the Largest
The tariff rate cut for Tesla was the largest, going from 20.8% to a mere 9%. The existing tariff on automobile imports is 10%; this is on top of that. After receiving subsidies, Tesl asked for a new pricing.
There was a small decrease from 17.4% to 17% at BYD, the top electric vehicle manufacturer in China. The highest rate at 36.3% fell from 38.1% for SAIC, while the lowest rate for Geely, owner of Volvo and Polestar, was 20% down to 19.3%. A tariff rate of 21.3%, up from 21% in June, will be applied to all other participating enterprises.
Failure to assist with the investigation will result in automakers being subjected to the highest possible rate of 36.3%.
EU to Announce Final Tariffs in October
As part of their continuing inquiry, the EU indicated that the new prices could alter. An announcement will be made in the EU Official Journal as soon as a final decision is reached.
The participating automakers have 10 days to offer comments after requesting hearings. Following that, the Commission will inform the Member States of its findings, and the latter will decide whether or not to implement them. No later than October 30, 2024, will the Commission's conclusions be made public.
