😤 Europe went harder on China

[Finimize](   TOGETHER WITH     Hi {NAME}, here's what you need to know for June 14th in 3:15 minutes.   📆 Keeping up with a busy calendar is hard enough, let alone planning your investment strategy years in advance. Join us for [An Expert's Five-Year Investing Plan]( on June 18th, so you can focus on getting dinner dates and vacations in the diary. [Grab your free ticket]( Today's big stories - Europe announced fresh Chinese EV tariffs, but the region’s own carmakers had mixed feelings - Why oil and gas stocks still deserve your, ahem, fuel attention – [Read Now]( - The latest dip in the eurozone’s industrial sector suggested a fragile recovery for the region Multiply And Conquer [Multiply And Conquer] What’s going on here? The European Union (EU) [announced]( increased tariffs on Chinese EVs in a bid to push the region’s own carmakers ahead of the competition. What does this mean? The EU’s new tariffs will set in from July 4th unless negotiations take place. They’ll range from 17% for manufacturer BYD to 38% for SAIC – and that’s on top of the existing 10% levy on all Chinese EVs. The EU's ramping up the tax because it's worried about cheap, Chinese government-subsidized cars pulling the rug from underneath European carmakers. And the US has gone even further. The country hiked tariffs on imported Chinese EVs in May, with rates set to quadruple from 25% to a full-on 100% this year. Why should I care? Zooming out: Double the damage. Despite European carmakers feeling the pinch from the competition, they aren’t all celebrating new tariffs. German carmakers are so reliant on Chinese sales that they’ll be sweating bullets at the thought of retaliation. Case in point: China accounted for around 30% of BMW, Volkswagen, and Mercedes-Benz’s sales last quarter. Plus, many European carmakers import their own Chinese-made vehicles. So higher taxes would force them to pay extra, likely offsetting the advantage of building in China in the first place, unless they take the costly route of setting up new production sites elsewhere. The bigger picture: Treading new ground. China is now looking to the developing world to keep its export engine running smoothly. After all, carmakers could dodge tariffs by shipping through countries like Vietnam or Mexico on the way to their target markets. Or, they could find new markets altogether. But they’ll need to act fast. At home, consumer prices rose by less than expected in May, while factory prices dropped for the 20th month in a row. That means China’s carmakers will struggle to fetch the right prices in their local market, so their bottom lines could hinge on them sorting out their exports. You might also like: [The hybrid hype has put even Tesla in the back seat.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Multiply And Conquer&utm_campaign=daily-global-14-06-2024&utm_source=email) Analyst Take Five Reasons Not To Write Off Oil And Gas [Five Reasons Not To Write Off Oil And Gas]( By Theodora Lee Joseph, CFA, Analyst More investors are shunning the stocks of carbon-emitting firms, and trillions of dollars are going into the green transition. So it’d be easy to write off [fossil fuel companies]( – but I wouldn’t. These [firms]( are some of the biggest players in clean energy, and their old-school operations are far from over. That’s today’s Insight: [why oil and gas stocks are still worthy of your attention](. [Read or listen to the Insight here]( Your cheat sheet for choosing a trading platform There are nearly as many trading platforms as there are stocks nowadays. So it’s tough to weed through them all – but if you want to find a platform with [the sharpest tools](, the [best benefits](, and the [fewest hidden fees or fine print](, you’ll need to plow through one by one. Or not. [Our guide]( to finding the right trading platform details the components that you’ll want to look for, the factors that can set you up for an optimum experience, and any red flags to be aware of. Think of it as your [cheat sheet for vetting platforms](, so you can streamline your search. Or if you want an even easier route, we included [an overview of IG’s platform]( – you might just find it sticks. [Read The Guide]( Euro-Groan [Euro-Groan] What’s going on here? The eurozone’s industrial sector [dipped]( in April, but that hasn’t stopped a major investment bank from expecting the region to end the year on a high. What does this mean? Economists had only expected the eurozone’s industrial output to tick up by a modest 0.2% in April, but even that was too high a goal. Instead, the measure declined by 0.1%, while March’s figures were revised downward to a tiny 0.5% increase. That said, the drop was mainly related to stuff like raw materials, while the output of “capital goods” – including machinery and equipment – seemed to move in the right direction. And the worst dips came from some of the eurozone’s smaller economies, with Italy the only one of “the big four” to slip. Why should I care? For markets: Europe’s talking politics. The eurozone now needs to pin its hopes on the service industry, which is still feeling the weight of high interest rates and inflation. To make matters worse, Europe is rattled by political turbulence, with alarms ringing about a potential increase in right-wing governance that could exacerbate the region’s financial worries. Still, Citigroup’s analysts predict the European STOXX 600 index to ramp up by 11% by the end of the year, saying it could hit even bigger numbers if interest rates are cut. The bigger picture: The scissors are under lock. Rapidly fluctuating economic updates are making it tough to get a read on how a country’s really doing right now. One week, an economy can seem strong enough to risk sparking up inflation. Another, it could be teetering on the weak side. This week’s figures fell into the second category: China and the UK both released data that pointed toward faltering economies. So remember to zoom out to the wider picture – and be extra cautious: conflicting data often comes out when the economy’s at a turning point, for better or for worse. You might also like: [Europe vs Japan – the stocks you might want in 2024](. Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Euro-Groan&utm_campaign=daily-global-14-06-2024&utm_source=email) 💬 Quote of the day "What lies behind you and what lies in front of you, pales in comparison to what lies inside of you." — Ralph Waldo Emerson (an American essayist, lecturer, philosopher, and poet) [Tweet this]( 🤝 Tom and Jerry, Woody and Buzz Lightyear, Butch Cassidy and the Sundance Kid. You're a stellar fintech brand looking to get your name out there, and [we're a newsletter]( with hundreds of thousands of brainy, switched-on readers. Let's become the next picture-perfect duo: [Talk to the team](. [Get Your Name Out There]( 6️⃣ count to six US stock indexes have been hitting [fresh highs](. 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