Wall Street Breakfast Tesla, BMW drive into EU tariff battle
Jan 28, 2025
Tesla and BMW take on the EU's tariffs on Chinese-made electric vehicles, sparking a legal battle that could reshape the market. Norway leads the charge towards going fully electric by 2025, with a significant surge in EV sales influenced by supportive policies. Additionally, Smithfield Foods sets the stage for its IPO with shares priced at $20. Financial market trends reveal interesting stock movements and highlight major upcoming economic events.
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EU Tariff Challenges
- Tesla and BMW are challenging EU tariffs on Chinese-made EVs.
- They argue these tariffs harm global business, limit EV supply, and hinder decarbonization.
Norway's EV Transition
- Norway is set to become the first country to phase out new gasoline and diesel car sales by 2025.
- Almost all new cars sold in early 2025 were electric, driven by tax breaks and charging infrastructure.
Smithfield Foods IPO
- Smithfield Foods has priced its initial public offering (IPO) at $20 per share.
- The offering includes 26 million shares, with an option for underwriters to purchase an additional 3.91 million.