EU Pressures China on Hybrid Export Limits
- On Thursday, the European Union asked China to voluntarily restrict hybrid vehicle exports to around 15% of the EU market, the Financial Times reported, as part of efforts to prevent a trade war.
- European Commission President Ursula von der Leyen said Wednesday the bloc faces an "unsustainable" trade deficit, which hit €360.6 billion last year and widened by 9% in the first half of this year.
- Von der Leyen warned that Europe faces a second "China shock" through overcapacity in chemicals, batteries, and vehicles, with the E.U. reporting a daily €1 billion trade deficit.
- European Trade Commissioner Maros Sefcovic is leading negotiations to address the trade gap, aiming for tangible results by October and planning a visit to China early next month.
- Beijing rejects the criticism, arguing that concerns over economic imbalances are protectionist efforts aimed at constraining China rather than legitimate responses to excess capacity.
71 Articles
71 Articles
<p>EU urges China to voluntarily restrict hybrid car exports to avoid trade war Brussels has urged Beijing to voluntarily limit hybrid exports to 15% of the EU market. Otherwise, the bloc may impose its own restrictions</p>.
The European Union has called for China to voluntarily restrict exports of hybrid vehicles as part of its efforts to contain a trade war, said the Financial Times. Brussels wants Beijing to set a ceiling for sales of Chinese hybrids around 15% of the EU market, said the newspaper, quoting people in the news of the negotiations. If they do not limit their exports to our market, we will do so, said an EU authority in a declaration to the FT. The i…
The European Union has asked China to voluntarily limit the export of its hybrid cars to the European market in order to avoid a trade war, the Financial Times reports. The stakes in the negotiations are huge, as the EU is running a trade deficit of one billion euros a day with China, while the European car industry is forced to make mass layoffs. We will also address similar topics at our Portfolio Investment Day conference on October 21. One o…
Jornal Expresso
DnoticiasThe aim is to avoid new tariffs and contain the growing entry of Chinese vehicles, the Financial Times today advanced. According to the same newspaper, a European official will have said that if they do not limit exports to our market, then we will do so.
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