EU Plans Temporary Import Cap on Chinese Hybrid Cars as Webull Sinks on China Security Findings

The European Union is preparing safeguard measures that would impose a temporary cap on imports of Chinese hybrid vehicles into the bloc, Bloomberg reported on October 7. The move is intended to help rebalance a trade relationship strained by China's push to manufacture more at home, which has widened Beijing's trade surplus with Europe and intensified pressure on European industries. France and Germany have been among the countries pushing for tougher measures, including a tool that would allow Brussels to block imports benefiting from unfair state subsidies.

China responded quickly through state-linked channels, with CCTV warning that Beijing has tools ready to deploy if tensions escalate, including foreign-subsidy probes and anti-discrimination measures targeting European companies. EU and Chinese negotiators are expected to meet in Beijing, where the proposed hybrid-car cap and broader trade friction will top the agenda.

On the same day, a bipartisan House committee released a report declaring that retail trading platform Webull poses a national security risk due to its structural ties to the Chinese government. The panel, led by Rep. John Moolenaar of Michigan, found that Webull's ownership architecture, use of mainland China technology providers, and opaque corporate structure expose American investors and their personal data to Chinese surveillance risk. The report said Webull had downplayed those connections and was not the ordinary U.S. company it presented itself as. Webull shares fell as much as 29% on the news, with sources citing a range of roughly 18% to 31% depending on the session, while rival brokerages Robinhood and Interactive Brokers slipped around 3% and 2% respectively. The committee's findings carry no automatic penalty, but a formal federal agency review is seen as the next critical trigger for the stock.