China and EU reach ‘understanding’ on hybrid vehicles after crunch trade talks
The European Union and China “reached an understanding” on trade in hybrid electric vehicles during marathon negotiations in Beijing on Friday, China’s commerce ministry said in a statement. Beijing is “willing to continue” fast-tracking licenses for rare earth mineral exports to Europe, while the sides will continue negotiations on reducing tariffs and creating minimum price deals that would…
The European Union and China have reportedly reached a tentative agreement during extensive trade talks in Beijing, Reuters reported on Friday. The 16-point document, still awaiting an official EU translation, outlines various points of consensus, with details on hybrid vehicle negotiations remaining scarce. EU Trade Commissioner Maros Sefcovic was among those in Beijing, engaging with Chinese Commerce Minister Wang Wentao and Vice-Premier He Lifeng.
The talks followed a surge in Chinese hybrid vehicle exports to Europe, prompting European calls for stricter controls. Next week, Sefcovic will provide an update to EU leaders, as Brussels prepares to respond to the so-called "China shock 2.0." European nations are increasingly united in advocating for firmer action against perceived trade violations, with France and Germany reportedly drafting a plan to swiftly sanction offending entities.
The European Commission is expected to unveil fresh trade mechanisms and launch investigations to curb Chinese imports, particularly in sectors like chemicals, plastics, and automotive, in the coming weeks.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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