12:18 pm, October 29, 2024
The European Union has agreed to hold further talks with China around tariffs on imported electric vehicles and possible alternatives.
Starting from next week, the EU is planning to impose additional tariffs of up to 35% on Chinese-made EVs, but has said talks can continue beyond then.
The two sides are said to be looking at minimum price commitments from Chinese producers, or investments in Europe as an alternative to import tariffs.
‘The principals agreed that further technical negotiations would take place shortly,’ the European Commission said, following a meeting between EU trade chief, Valdis Dombrovskis, and Chinese minister of commerce, Wang Wentao.
A statement from China’s commerce ministry insisted that Beijing ‘welcomed the EU team to come to China as soon as possible’ and that both sides had said the pricing structure of EVs would be the solution to the dispute.
Dombrovskis and Wang affirmed their commitment to finding an agreement compatible with World Trade Organization rules, the Commission said.
According to news agency Reuters, China urged the EU two weeks ago not to conduct separate negotiations with Chinese car companies, warning this would ‘shake the foundations’ of negotiations.
The Commission said Dombrovskis made it clear that the EU negotiations with the China’s Chamber of Commerce for Import and Export of Machinery and Electronic Products do not exclude discussions with individual exporters.
China said it would continue to conduct its investigations and that they complied with Chinese and World Trade Organization rules.
The Commission oversees trade policy for the 27 nations in the EU and has already held eight rounds of negotiations with Chinese EV manufacturers.
