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Employees work on the assembly line of new energy vehicles at a factory of Chinese EV startup Leapmotor on April 1, 2024 in Jinhua, Zhejiang Province of China. The additional tariffs are the result of an EU probe that began in October. Main Chinese BEV producer BYD was struck with a 17.4% tariff, with Geely slapped with a 20% duty. "We strongly oppose the use of increased tariffs as a strategy to obstruct the normal global trade of electric vehicles. watch nowGlobal EV trade tensions

Persons: Shi Kuanbing, Valdis Dombrovskis, Dombrovskis, BEV, BYD, Geely, Elon Musk's Tesla, Tesla, Nio Organizations: Visual China, Getty, Union, EV, European Commission, EU, CNBC, China's Ministry of Commerce, Google, World Trade Organization, SAIC, Global Locations: Jinhua, Zhejiang Province, China, Europe, Shanghai

☆ France's Macron says he won't quit if his party loses in snap election vote
▼ + stars: | 2024-06-12 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

French President Emmanuel Macron speaks with CNBC's Andrew Ross Sorkin (not shown), in Paris on May 23, 2024. French President Emmanuel Macron on Wednesday affirmed that he would not step down if his party suffers in the recently called snap elections for France's Parliament. The snap election is a gamble for Macron, who has characterized the race as a choice for the French people between nationalism and demagoguery or liberal values and a strong, united European Union. The European Parliament election results indicated waning enthusiasm among voters for the EU, which analysts say surfaced at least in part due to rising frustration over issues like immigration, living costs and crime. France's right-wing National Rally (NR) party won a historic 31.37% of the French vote for the European Parliament, more than double the 14.6% won by Macron's Renaissance party.

Persons: Emmanuel Macron, CNBC's Andrew Ross Sorkin, Macron, Gabriel Attal Organizations: France's, CNBC, Sunday, French, Union, EU, Macron's Locations: Paris, France, Germany, Austria, Europe, it's, France's

☆ Europe risks trade war with China by hiking tariffs on its electric cars
▼ + stars: | 2024-06-12 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

The European Commission, the EU’s executive arm, launched the probe in October to establish whether Chinese EV prices are artificially low because of subsidies and so hurt European carmakers. Europe is the main destination for Chinese EV exports. The new EV tariffs are likely to kick off intense negotiations between Beijing and Brussels aimed at averting a damaging trade war. Many of them manufacture cars in China and then sell them in Europe, a set-up that will be more costly as a result of the higher tariffs. Alternatively, Beijing could pledge investment into EU countries and promise better market access in China for EU firms, the Rhodium analysts wrote.

Persons: ” Will Roberts, BYD, Roberts, …, Olaf Scholz, ”, Joe Biden, Olesya Dmitracova, Mark Thompson, Shawn Deng, Alex Stambaugh Organizations: London CNN, European Union, European Commission, Commission, Volvo, SAIC, EV, EU, Rho Motion, China’s Ministry of Commerce, Rho, Renault’s, CNN, “, France EU, Group Locations: China, Beijing, European, Brussels, Washington, EU, Europe, Renault’s Dacia, “ Beijing, Germany, France, Spain, United States, Hungary, London, Hong Kong

☆ Macron's snap election gamble in France resurfaces an old criticism — that he's arrogant
▼ + stars: | 2024-06-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +7 min

Left-leaning newspaper Liberation described the snap election call as an "extreme gamble," while the center-right Le Figaro ran a brief headline Monday: "Le choc" ("shock"). That happened well before the humiliation of the European election results, in which Macron's Renaissance party got less than half as many votes as the far-right Rassemblement National ... In the meantime, other commentators and newspapers, such as Les Echos, have characterized Macron's move as a game of poker. Macron's supporters defend the president as a self-made and ambitious man who has a direct way of speaking to voters. "First, he has interpreted the vote for the European Parliament as a personal insult, as a rejection of his domestic policy direction.

Persons: Emmanuel Macron, Xi Jinping, Ursula von der Leyen, Gonzalo Fuentes, Emmanuel Macron's, Macron, drubbing, Jordan Bardella, Le Figaro, Alexis Brézet, Fenoglio, Macron's, it's, Robert Ladrech, Chirac Organizations: Reuters, Macron's Renaissance Party, National Assembly, Le Monde, CNBC, Keele University Locations: Paris, France, what's, EU

☆ CFR's Richard Haass on EU election fallout: It's a really bad time to be an incumbent
▼ + stars: | 2024-06-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCFR's Richard Haass on EU election fallout: It's a really bad time to be an incumbentRichard Haass, Council on Foreign Relations president emeritus and Centerview Partners senior counselor, joins 'Squawk Box' to discuss the fallout from Sunday's EU elections, what it says about the politics in Europe and elsewhere around the world, what it means for business and investors going forward, and more.

Persons: Richard Haass Organizations: Foreign, Centerview Partners Locations: Europe

☆ Europe is reckoning with a 'much more unpredictable' U.S., former EU chief says
▼ + stars: | 2024-06-11 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Former European Commission President Jose Manuel Barroso speaks on stage during the 2022 Concordia Annual Summit in New York on September 20, 2022. Leigh Vogel | Getty Images Entertainment | Getty ImagesA more "unpredictable" U.S. will only add to the challenges facing the incoming European Parliament as it navigates increasingly fraught ties with China and Russia, according to former EU Commission President José Manuel Barroso. "It's not just that the European Union is facing a much more aggressive Russia, a much more assertive China, it's also facing a much more unpredictable United States of America. watch nowBarroso, who served as commission president from 2004 to 2014, said that the U.S. remains the EU's "biggest ally," and that the two sharing close ties, including within NATO. "Today there are some doubts about which way the United States can go.

Persons: Jose Manuel Barroso, Leigh Vogel, José Manuel Barroso, Barroso, Donald Trump, It's, it's, CNBC's Silvia Amaro Organizations: European, Getty, EU, CNBC, Republican, U.S, NATO, Goldman Sachs Locations: New York, China, Russia, Europe, States of America, Ukraine, U.S, United States

☆ Opinion: Germany’s 16-year-olds voted for the first time in European Parliamentary elections. The far-right results were scary
▼ + stars: | 2024-06-11 | by ( Opinion Paul Hockenos | ) edition.cnn.com time to read: +7 min

What a shock then – and coming days after the 80th anniversary of D-Day - that many German first-timers threw their votes disproportionally behind the far-right Alternative for Germany (AfD) party. Paul HockenosWhat a shock then – and coming days after the 80th anniversary of D-Day — that many German first-timers threw their votes disproportionally behind the far-right Alternative for Germany (AfD) party. A full 95% of German AfD voters said Germany should limit the flow of foreigners and refugees into Germany. Not exactly the credentials of a party you would think would appeal to the next generation of German voters. But they must vent this pique constructively, as the extreme right has no answers to these problems (which, oddly, I’ve heard hard right voters say they recognize.)

Persons: Paul Hockenos, ”, Read, “ We’ll, Paul Hockenos Hayyan, —, Maximilian Krah, weren’t, Adam Berry, doesn’t, “, it’s, I’ve Organizations: Berlin CNN, European Union, verve, Greens, Parliamentary, Christian Democratic Union, Christian Social Union, CDU, CSU, SS, Democracy, Nazi, BBC Locations: Berlin, Europe, New Berlin, Austria, Belgium, Malta, Greece, Germany, Hamburg, Deutschland, Portugal, Italy, Sweden, Netherlands, France

☆ EU is expected to unveil tariff plans for Chinese EVs this week
▼ + stars: | 2024-06-11 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

TOPSHOT - People look at a BYD Seagull car by Chinese electric vehicle (EV) manufacturer BYD Auto at the Bangkok International Motor Show in Nonthaburi on March 27, 2024. (Photo by Lillian SUWANRUMPHA / AFP) (Photo by LILLIAN SUWANRUMPHA/AFP via Getty Images)The European Union is expected to reveal its tariff rate plan for Chinese electric vehicles this week, as the bloc cracks down on low-priced, subsidized imports. The EU has a standard 10% duty on imported EVs, but is set to provisionally raise those fees for Chinese EVs starting July 4. Citi analysts on Monday said the tariff rate could be "hiked to ~25-30% from 10% currently, while our risk scenario (40% probability) envisages a hike in the tariff rate to 30-50%." Ursula von der Leyen, president of the European Commission, saw her party – the European People's Party – gaining seats on Sunday.

Persons: Lillian SUWANRUMPHA, LILLIAN SUWANRUMPHA, Anthony Sassine, Ursula von der Leyen, Von der Leyen Organizations: BYD Auto, Getty, EU, EVs, Citi, European Commission, European People's Party Locations: Bangkok, Nonthaburi, AFP, Beijing

☆ European stocks head for flat to higher open as markets turn to Fed, U.S. inflation data
▼ + stars: | 2024-06-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

LONDON — European stocks are expected to open flat to higher Tuesday as investors look ahead to the Federal Reserve's next meeting and U.S. inflation data. The U.K.'s FTSE index is expected to open unchanged at 8,223, Germany's DAX up 6 points at 18,493, France's CAC 40 up 21 points at 7,897 and Italy's FTSE MIB up 16 points at 34,568, according to IG. Regional markets fell on Monday as traders reacted to the EU Parliament elections and French President Emmanuel Macron's decision to call a snap election after the right-wing National Rally party made strong gains.

Persons: Germany's DAX, Emmanuel Macron's Organizations: Federal, CAC, IG, Regional

☆ Why the far-right surge in European elections could be an omen for Trump
▼ + stars: | 2024-06-11 | by ( Stephen Collinson | ) edition.cnn.com time to read: +5 min

US voters don’t take direction from foreigners, and American presidential elections, which play out state by state, are far different from those for the European Union. Another lesson of the European elections is that in an age of inflation, incumbents are vulnerable to a disgruntled electorate. French President Emmanuel Macron and German Chancellor Olaf Scholz are smarting from their rebuke in European elections that rewarded far-right parties that echo the continent’s dark past. Canadian Prime Minister Justin Trudeau’s low approval ratings mean he might not even lead his Liberal Party into elections due by the end of next year. Macron, who heads a centrist party that was routed in the European elections, may be betting that the higher turnout in legislative elections could reverse the trend.

Persons: CNN —, Donald Trump’s, Hillary Clinton’s, Joe Biden, Trump, Biden, he’ll, Emmanuel Macron, Olaf Scholz, Justin Trudeau’s, Rishi Sunak, Macron, Le Pen, Jordan Bardella, Le Pen’s, ” He’s, ” Organizations: CNN, European Union, Canadian, Liberal Party, British, Conservative, “ Make, GOP, Labour Party, Trump, National Rally, Paris Locations: Britain, Europe, Italy, Poland, Normandy, EU

☆ Norway discovers Europe's largest deposit of rare earth metals
▼ + stars: | 2024-06-11 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Mining firm Rare Earths Norway says it has discovered Europe's largest proven deposit of highly prized rare earth elements, potentially reflecting a watershed moment for both the Nordic country and the broader region. One of the few deposits not owned or controlled by China, the discovery of continental Europe's largest rare earths deposit is considered a welcome boost in Europe's bid to break China's rare earths dominance. Alf Reistad, CEO of Rare Earths Norway, told CNBC that the discovery at Fen represents a "great milestone" for the company. "It is important to state that there is absolutely no extraction of rare earth elements in Europe today," Reistad said via videoconference on Monday. Rare Earths Norway said the rare earths deposit in Telemark, roughly 210 kilometers (130 miles) southwest of Oslo, is likely to underscore Norway's position as an integral part of Europe's rare earth and critical raw material value chain.

Persons: Alf Reistad, Reistad Organizations: Tech Co, Mining, Nordic, Rare, Norway, CNBC Locations: Mongolia, Baotou, Inner Mongolia, China, Norway, Sweden, Europe, videoconference, Telemark, Oslo

☆ Microsoft is considering a big new software bundle as it works out how to charge for AI, sources say
▼ + stars: | 2024-06-11 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +7 min

The plan focuses on Microsoft 365, a popular suite of productivity software used by thousands of businesses. This is a big risk for the company because Microsoft 365 has been an important source of revenue and growth, even without fancy new AI capabilities. The problem was that Microsoft salespeople started to pitch E5 as the last business software suite that customers would need to buy. AdvertisementA "spiritual successor"The generative AI boom, and Microsoft's early lead here, have increased the chances that a new 365 bundle will emerge soon. Microsoft has new AI tools that it can integrate with 365 and use that to persuade customers to upgrade their software bundle.

Persons: —, Satya Nadella, Jared Spataro's, Microsoft salespeople, it's, Slack Organizations: Service, Microsoft, Business, Microsoft's Productivity, Processes, Sharepoint, European Commission, EU Locations: Capex

☆ Potential EU tariffs on Chinese EVs won't have much impact: Strategist
▼ + stars: | 2024-06-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPotential EU tariffs on Chinese EVs won't have much impact, strategist saysAnthony Sassine, senior investment strategist at KraneShares, says Chinese manufacturers "are so efficient, are so ahead of the curve, that tariffs like this I don't think will impact too much the pricing here."

Persons: Anthony Sassine

☆ Microsoft is considering an AI revamp of its 365 software bundles, sources say
▼ + stars: | 2024-06-11 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +7 min

☆ Much more difficult for EU to make protectionist moves, says think tank
▼ + stars: | 2024-06-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMuch more difficult for EU to make protectionist moves, says think tankDaniel Hegedus of the German Marshall Fund of the United States discusses EU-China trade ties and the prospect of tariffs.

Persons: Daniel Hegedus Organizations: EU, German Marshall Fund of Locations: States, China

☆ North Darfur’s only hospital closes after paramilitary attack
▼ + stars: | 2024-06-10 | by ( Eve Brennan | ) edition.cnn.com time to read: +3 min

CNN —Sudanese paramilitary forces stormed the main hospital in North Darfur, opening fire and looting vital medical supplies, Doctors Without Borders (MSF) have reported. Fighters from the Rapid Support Forces (RSF) plundered the facility on Saturday stealing an ambulance among other supplies, the aid agency said. “On Saturday, MSF and the Ministry of Health suspended all activities in South Hospital, El Fasher, North Darfur, after RSF soldiers stormed the facility, opened fire, and looted it, including stealing an MSF ambulance,” MSF Sudan said on social media Saturday. As a result, patients are being moved to Paediatric and Saudi hospitals “which were unprepared for such an influx,” it added. The NGO added on X, formerly known as Twitter, there were only ten patients and a reduced medical team at the hospital at the time.

Persons: “, ”, Emergencies Michel Lacharite, Lacharite, Massrali, RSF Organizations: CNN, Sudanese, Fighters, Rapid Support Forces, MSF, Ministry of Health, South Hospital, Twitter, Emergencies, MSF Sudan, Foreign Affairs, Security, EU, El, Humanitarian, United Nations, UN, UN’s, Organization for Migration, Sudanese Armed Forces, SAF, UN Office, Humanitarian Affairs Locations: North Darfur, South, El Fasher, MSF Sudan, El, Darfur, Sudan

☆ EPP secretary general: Very clear message from the electorate
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEPP secretary general: Very clear message from the electorateThanasis Bakolas, the secretary general of the EPP, speaks to CNBC's Silvia Amaro after EU election results.

Persons: Bakolas, CNBC's Silvia Amaro Organizations: EPP

☆ We can maintain pro-European, pro-democratic majority in EU Parliament, MEP says
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe can maintain pro-European, pro-democratic majority in EU Parliament, MEP saysPedro Marques, vice-president of the Progressive Alliance of Socialists & Democrats, discusses far-right gains in the European Parliament elections.

Persons: Pedro Marques Organizations: EU, Progressive Alliance of Socialists, Democrats

☆ CNBC Daily Open: Far right gains in EU elections
▼ + stars: | 2024-06-10 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Far-right advanceFrench President Emmanuel Macron said he will dissolve parliament and call for a new legislative vote after his Renaissance party suffered a major defeat at the EU elections. Populist, far-right parties also won record support in this year's European Parliament elections, exit polls indicated late on Sunday. No way, MuskNorway's $1.7 trillion sovereign wealth fund, Tesla's eighth-largest shareholder, will vote against Elon Musk's $56 billion pay package.

Persons: Emmanuel Macron, Pen, CNBC's Karen Gilchrist, Dow, Stocks, Musk, Kitty's, Keith Gill, Gill, Korea's Kospi, Macron Organizations: CNBC, Populist, Nasdaq, Dow Jones, Treasury, Elon Musk's, GameStop, Nikkei, Markets, Nvidia, Apple Locations: Europe, freefall, Japan, Asia, Australia, Hong Kong, China

☆ Atlantic Council CEO Fred Kempe: Weakening Euro will be the most immediate impact of EU elections
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAtlantic Council CEO Fred Kempe: Weakening Euro will be the most immediate impact of EU electionsFred Kempe, CEO of Atlantic Council, and Malcolm Dorson, head of emerging markets at Global X, join CNBC's 'The Exchange' to discuss elections in the European Union, what this means for investors, and more.

Persons: Fred Kempe, Malcolm Dorson, CNBC's Organizations: Email Atlantic, Atlantic Council, Global, European Union

☆ EU election outcome 'really good news' for Germany's FDP, lead candidate says
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEU election outcome 'really good news' for Germany's FDP, lead candidate saysMarie-Agnes Strack-Zimmermann, newly elected German MEP for the Free Democratic Party (FDP), discusses the election outcome and the path ahead for the bloc.

Persons: Marie, Agnes Strack, Zimmermann Organizations: Germany's FDP, Free Democratic Party

☆ German coalition government will continue to 'muddle through,' Jörg Asmussen says
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGerman coalition government will continue to 'muddle through,' Jörg Asmussen saysJörg Asmussen, former ECB board member and former German deputy finance minister, discusses the outcome of the EU election in Germany.

Persons: Asmussen, Jörg Asmussen Organizations: ECB Locations: Germany

☆ French snap election 'akin to the Brexit vote,' Allianz economist says
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFrench snap election 'akin to the Brexit vote,' Allianz economist saysLudovic Subran, chief economist at Allianz, says French President Emmanuel Macron has tied his future to the future of Europe after calling a snap election following steep losses for his party at the EU elections.

Persons: Ludovic Subran, Emmanuel Macron Organizations: Allianz Locations: Europe

☆ Here’s what we learned from the European elections as a far-right surge upends national politics
▼ + stars: | 2024-06-10 | by ( Rob Picheta | ) edition.cnn.com time to read: +7 min

Far-right parties across the continent had strong showings, but their momentum did not cause the center ground of European politics to cave in – as many had predicted. Those gains did materialize; far-right groups were expected to secure a record number of seats in the European Parliament, dealing a major blow to the continent’s establishment leaders. Most of the far-right gains were concentrated in countries that elect large numbers of seats: France, Italy and Germany. Several other far-right parties are among the non-aligned (NI) group, predicted to secure 45 seats. The center holdsDespite a far-right surge, the centrist European People’s Party (EPP) was the biggest single winner on Sunday night.

Persons: –, Maximilian Krah, Ursula von der Leyen, ”, Von der Leyen, ” Von der Leyen, Emmanuel Macron, Marine Le, ” Macron, Marion Maréchal, Jordan Bardella, Alexander De Croo, ” De Croo, Meloni, Tusk, Giorgia Meloni, Brothers, Benito Mussolini, von der Leyen, Donald Tusk’s, Viktor Orbán, Bas Organizations: CNN, Green, Nazi, European People’s Party, EPP, Progressive Alliance of Socialists, Commission, Ukraine, Marine, Assembly, French, Ministry, Italy’s, Italy, Law and Justice, PiS, European, Fidesz, Greens, Bas Eickhout, EFA, European Green Party, European Commission Locations: –, France, Europe, Italy, Germany, Brussels, France’s, “, Ukraine, Poland

☆ Far right makes strong gains in EU elections as center holds majority
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFar right makes strong gains in EU elections as center holds majorityPopulist, far-right parties won record support in this year’s European Parliament elections, according to provisional results on Monday. CNBC has the full break down.

Organizations: CNBC

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