EU and China strike interim trade deal that could cut Chinese hybrid exports, EU envoy says
The deal could cut Chinese hybrid car exports to the EU by more than half and eases tariffs on nearly $4 billion in European goods.
- On Friday, European Trade Commissioner Maros Sefcovic and Chinese Commerce Minister Wang Wentao reached a deal in Beijing to moderate Chinese exports of hybrid and plug-in hybrid vehicles to the European Union.
- European Commission President Ursula von der Leyen warned lawmakers last month that the trade gap reached a "tipping point," as Chinese exports to the EU totaled $560 billion last year while EU imports were $268.3 billion.
- Negotiators also agreed to reduce Chinese import duties on $4.5 billion worth of EU goods, including car parts and olive oil, while simplifying export licenses for rare earths and permanent magnets essential to advanced manufacturing.
- The agreement requires approval from leaders of all 27 EU nations, who will discuss the outcome at their summit in Brussels on Thursday, October 15.
- Sefcovic projected the deal could cut Chinese hybrid exports by more than half over a four-year period, with both sides committing to maintain communication and meet again next March.
63 Articles
63 Articles
China agreed on Friday to "moderate" the flow of hybrid vehicles into the EU, according to EU Trade Commissioner Maros Sefcovic. This decision could stop the arrival of millions of Chinese vehicles on the European market in the coming years. - Hybrid car: China agrees to contain its exports to the EU, according to a European Commissioner (Economy).
EU Trade Commissioner Maros Sefcovic and his Chinese counterpart Wang Wentao have averted an escalation of the trade dispute for the time being, but it is no more than a start.
After two days of talks, the European Union and China reached a provisional agreement in Beijing to curb the export of Chinese hybrid and plug-in hybrid cars to Europe. European Commissioner Sefcovic, who held talks with Chinese Trade Minister Wang Wentao, spoke of "tangible results" afterwards. According to him, they agreed to halve Chinese exports of hybrid and plug-in hybrid cars to the European market. Over the next four years, this means a…
The EU and China agreed to cut Chinese exports of hybrid cars, according to EU Trade Commissioner Šefčovič after negotiations in Beijing. Over the next four years, several million fewer hybrid and plug-in hybrid cars will be exported to Europe.
The new round of dialogue in March 2027 - What does the agreement provide for, which products does it concern?
Coverage Details
Bias Distribution
- 39% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
