China to Cut NEV Export Tax Rebate to 9% From April 2026

The rebate cut trims an incentive that has effectively subsidised export pricing for Chinese NEV makers, and the timing gives the industry over a year to adjust — a signal that policymakers are prioritising domestic consolidation over export volume. The hybrid-trade language from Commerce reads as reassurance to European counterparts rather than a concession, suggesting Beijing wants to decouple the subsidy question from tariff tensions. Whether the reduced rebate compresses export margins enough to shift pricing behaviour, and whether Europe treats the hybrid arrangement as sufficient, are the open questions.