EU and China strike interim trade deal that could cut Chinese hybrid exports, EU envoy says
- 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.
209 Articles
209 Articles
A series of mitigation measures were announced yesterday between China and the EU The post China: Trade agreements with the EU allow "to avoid escalation" appeared first on in.gr.
EU AND CHINA CUT A DEAL: Beijing Agrees to Slash Hybrid Car Exports in Bid to Head Off Trump-Style Tariffs
Brussels and Beijing announced an interim trade agreement Friday that EU officials say could halve Chinese hybrid vehicle exports, as both sides scramble to stabilize a relationship strained by a €1.18 billion-a-day trade deficit.
EU says trade deal could cut up to 50% of Chinese EV and plug-in hybrid imports and lower tariffs for some European exports to China
The top trade envoys for China and the European Union agreed Friday on a broad initial deal following two days of talks aimed at calming escalating tensions over trade imbalances.
After two days of negotiations in Beijing, Brussels and the Chinese government reached an agreement to contain exports of hybrid and plug-in hybrid cars to the European market. The announcement came from the European Commissioner for Trade, Maroš Šefčovič, at the end of the meetings [...] Article L'Europa tries to curb hybrid made in China. Agreement to limit imports comes from Il Fatto Quotidiano.
EU, China Strike Deal that Could Cut Chinese Hybrid Car Exports
The top trade envoys for China and the European Union agreed Friday on a broad initial deal following two days of talks aimed at calming escalating tensions over trade imbalances, the EU trade commissioner said.
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