10:35 AM EDT, 07/05/2024 (MT Newswires) -- Li Auto ( LI ) and other China electric vehicle stocks were down in late Friday morning trading after the European Commission imposed provisional countervailing duties on Chinese imports of battery electric vehicles.

The European Union has decided to levy up to 37.6% tariffs on imports of electric vehicles made in China for non-cooperating companies.

Shares of Li Auto ( LI ) fell past 3%, NIO (NIO) was down 8.1%, and XPeng ( XPEV ) dipped more than 10%.

Price: 20.14, Change: -0.58, Percent Change: -2.80