Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action news and analysis.

Good afternoon. Today is Thursday, June 13th I'm your host Kim Khan. Our top story so far.

China has warned that the European Commission's plans to impose provisional tariffs on Chinese

electric vehicle imports will impact trade relations.

The China Chamber of Commerce to the EU said the move will seriously impair the legitimate

rights and interests of EV manufacturers in China to distort fair competition in the European market and exert negative impacts on China-EU trade and cooperation in the automotive sector.

China's Ministry of Commerce said the European side has disregarded facts and WTO rules,

ignored China's repeated opposition, and ignored the appeals and dissuasion of multiple EU member states and industries.

Germany, Sweden, and Hungary, as well as European carmakers, have

opposed the planned tariffs. In addition, Tesla has asked the European Union to impose a lower

tariff rate on its China-made electric

vehicles imported to the block compared to other automakers. It is arguing that it

receives less state support. Tesla is also considering raising the Europe prices of

its model three vehicles after the EU decision.

We're anticipating a requirement for us to increase pricing for model three vehicles as of the 1st of July 2024.

This is due to additional import duties likely to be imposed on electric vehicles manufactured in China and sold in the EU, a notice said on European Tesla sites.

As you heard on Wall Street breakfast, Tesla shareholders are

likely giving the thumbs up to Elon Musk's $56 billion pay package, so gotta defray

the costs where you can, I guess.

On the economic front, more Devish data hit

following Wednesday's CPI.

The May PPI saw its biggest decline since October,

...