China agrees to 'moderate' car exports to Europe: EU commerce chief
The European Automobile Manufacturers’ Association called the agreement “a positive step in easing trade tensions.”
China has agreed to moderate its car exports to Europe, according to the European Automobile Manufacturers’ Association. The decision comes after months of escalating tensions between the 27-nation European Union and China. The EU and China were on the verge of a trade war, but the EU now sees this as an opportunity to leverage its bargaining power due to China's economic crisis. The European Parliament's trade committee chief, Bernd Lange, expressed optimism ahead of the Chinese Trade Minister's trip to Brussels.
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