China rejects EU request for voluntary hybrid car export curbs, FT reports
- China refused an European Union request to voluntarily limit hybrid car exports to about 15% of the bloc's market, rejecting Brussels' proposal as negotiations intensify.
- EU imports of Chinese-made HEVs climbed from 23,711 units in May to 32,797 in July, while their monthly value rose from €335.6 million to €489.4 million, according to Eurostat.
- European Commission officials are weighing temporary safeguard tariffs that do not require proof of unfair trade practices, with a set quota of Chinese hybrids entering at standard terms and steep extra duties on excess shipments.
- Brussels views the hybrid curbs as a test case that could extend to other sectors with large trade imbalances, with EU leaders set to discuss the strategy at the European Council summit on October 15 and 16.
- Chinese Foreign Ministry spokesperson Guo Jiakun said on September 18 that "we hope the EU will honor its commitments to market openness and free trade," as negotiations echo Japan's voluntary export restraints from the 1990s.
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Before the Brussels summit, details seep through on how China and the EU could resolve a trade conflict. Experts argue with the idea of reconciling export quotas and minimum prices. Compensatory tariffs are the better option against unfair competition.
DECRYPTAGE - On the eve of the World Auto Show, Paris and Berlin did not manage to grant their vision. However, time is running out, with China's market share already close to 12% in Europe.
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EU weighs safeguard tariffs as China refuses hybrid car limits
Beijing has rebuffed a European Union request to voluntarily cap hybrid car exports to the bloc, raising the prospect of new, steep EU tariffs on Chinese hybrids, which have so far escaped the duties on pure electric vehicles. China has refused to set quotas on its exports of hybrid electric vehicles (HEVs) and plug-in hybrid […]
Will EU press the ‘kill switch’ on China? Trade war looms over talks
EU officials are raising alarms over the escalating trade deficits with China, exceeding one billion euros on a daily basis. The spike in Chinese hybrid-car exports underscores possible gaps in EU tariff policies. Although talks are underway, China shows little willingness to engage in voluntary export restrictions for select products. EU leaders are now considering a 'kill switch' mechanism.
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