The potential for differentiated vehicle segment tariffs

Globally, electric vehicles (EV) are facing rising tariffs, with markets such as those of the EU and US imposing significant tariffs on EV imports, alongside countries like Turkey, Canada, Mexico, and Brazil, which are also introducing higher trade barriers. While tariffs on EVs are seen to help shield local auto industries and jobs, they may also risk limiting continued access to affordable EV imports. This is particularly relevant given slowed growth in several EV markets.