China rejects EU request for voluntary curbs on hybrid car exports as trade talks begin in Beijing: What it means
China has rejected the EU’s request for voluntary curbs on hybrid car exports, adding a fresh hurdle to trade talks in Beijing, Financial Times reported. Brussels is considering import caps or tariff-rate quotas as Chinese carmakers expand their share of Europe’s auto market.
The European Union has rejected China's request for voluntary curbs on hybrid car exports, escalating tensions in trade talks between the two sides, according to the Financial Times. EU Trade Commissioner Maroš Šefčovič is in Beijing for two days of negotiations with Chinese Commerce Minister Wang Wentao, aiming to address the EU's widening trade deficit with China.
Chinese carmakers have captured a significant share of Europe's new-car market, with hybrid vehicles becoming a focal point of the EU's concerns. The EU is considering safeguard measures, such as tariff-rate quotas, to limit imports, potentially including additional tariffs for vehicles exceeding a specified volume. The talks aim to reduce the trade imbalance without triggering a broader conflict.
If successful measures are implemented, they could serve as a model for addressing other trade imbalances.
Written by urgent.news from Live Mint's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- How much more world trade can China steal? macrobusiness.com.au
- EU’s top trade envoy in China for tense talks over cars ft.com
