EU and China strike interim trade deal that could cut Chinese hybrid exports, EU envoy says
- On Friday, China committed to reducing hybrid vehicle exports to the European Union by up to 50%, following recent EU limits on Chinese electric vehicle and battery imports.
- Rising trade tensions dubbed 'China shock 2.0' prompted the pledge as both sides seek to address China's significant global trade surplus and the European Commission's market protection measures.
- These trade restrictions affect 'almost every' EU member state, according to officials, as the EU continues efforts to protect local manufacturing sectors from subsidized imports.
- China recently launched retaliatory measures limiting duty-free small parcel imports from the EU, targeting the fast fashion sector specifically.
- Both sides continue seeking to resolve underlying factors driving the trade imbalance, though the EU remains cautious regarding national security concerns often raised at Washington's behest.
42 Articles
42 Articles
El Periódico
China will cut its exports of hybrid vehicles to the European Union (EU) by half. The agreement reached after marathon negotiations is far from resolving nuclear issues and lacks elementary details such as the way to implement it; in return, feel the will for mutual understanding and move away from a trade war that seemed imminent. The measure was revealed by EU Trade Commissioner Maros Sefcovic, as exhausted and satisfied during his nightly pre…
saarbruecker-zeitung.de
The EU wants to significantly reduce imports of Chinese hybrid cars. In China, Brussels and Beijing now agree on a compromise. Can the German car industry breathe up?
The European Association of Automobile Manufacturers (ACEA) said it welcomed the announcement by the European Commission and China of a provisional agreement to correct critical trade imbalances, according to a statement.
A flood of exports from China is burdening the local industry. Now the EU has negotiated that Beijing should ship fewer hybrid cars to Europe in the future. However, the agreement leaves many questions open.
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