China cuts export VAT rebate on new energy vehicles by 9% effective April 2027

China announced a 9% reduction in export VAT rebates for new energy vehicles, effective April 1, 2027. This marks a policy shift that could raise costs for EV exporters and potentially dampen export competitiveness, though the long lead time suggests a gradual adjustment. The move may signal Beijing's intent to manage overcapacity and trade tensions, with implications for global EV markets and pricing.