EU looking to sanction Indian, Chinese firms over Russia dealings

$XPeng(XPEV.US)$ $BYD COMPANY(01211.HK)$ $NIO Inc(NIO.US)$ $Tesla(TSLA.US)$ The European Union has proposed new trade restrictions on about two dozen firms, including three based in China, accused of supporting Russia’s war efforts in Ukraine. If adopted, it would be the first time the EU has imposed restrictions on companies in mainland China since Russia invaded Ukraine. The list also includes companies in Hong Kong, Serbia, India and Turkey, according to a draft of the proposal seen by Bloomberg.

Comment: Such trade restrictions will definitely anger China and face trade retaliation. Chinese EV export to Europe will be affected including any investment plan. Tesla which has a EV Gigafactory in Berlin, Germany will has little implications.

Source:

EU looking to sanction Indian, Chinese firms over Russia dealings - Deccanherald

$BYD COMPANY(01211.HK)$ $BYD Co.(BYDDF.US)$ $S&P 500 Index(.SPX.US)$ $Nasdaq Composite Index(.IXIC.US)$ $Tesla(TSLA.US)$ $VOLKSWAGEN A G(VWAGY.US)$ $NIO Inc(NIO.US)$ $Li Auto(LI.US)$ $XPeng(XPEV.US)$ $General Motors(GM.US)$ $Ford Motor(F.US)$ $Rivian Automotive(RIVN.US)$ $MERCEDES-BENZ GROUP AG(MBGAF.US)$ $TOYOTA MOTOR CORP(TOYOF.US)$ $GEELY AUTO(00175.HK)$ $Stellantis NV(STLA.US)$

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ZnWC

I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.

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