European Union to Restrict Chinese Hybrid Cars Imports to 3,50,000 per Year, Says Report
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36 Articles
The trade agreement between the EU and the Asian giant will begin to apply this month of December for four years. The quota will increase by 6% fixed over the next three years and affects the origin of the manufacture, so the cars manufactured in Europe are not subject to the restriction.The EU achieves an agreement with China to halve its exports of hybrid vehicles to Europe.More details are already known about the trade agreement between the E…
Following the agreement on a throttling of Chinese exports of hybrid cars, the EU has announced details.
A bilateral agreement between Brussels and Beijing will reduce exports of Chinese hybrid vehicles to the European market by more than half.
Brussels and Beijing have agreed on an import quota of 350,000 hybrid cars that can be imported from China to the EU per year. This was reported by a senior EU official on Monday in an explanation of the deal concluded last Friday by European Commissioner Maroš Šefčovič (Trade) and Chinese Trade Minister Wang Wentao.
The current Chinese imports are to be reduced by half, which is the clear goal in Brussels.
This deal is also intended to reduce the pressure on Germany's car manufacturers: EU and China had recently agreed on a compromise for the imports of hybrid cars. Brussels is now presenting concrete figures.
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