The Chinese Ministry of Commerce announced some progress achieved in negotiations between China and the European Union on the issue of duties on Chinese electric vehicles. TASS reports this.
As the department clarified, a joint group of the PRC and the European Union to study technical issues held five meetings in Beijing on November 2-7, during which an “in-depth exchange of views” took place on price duties.
It is reported that the parties agreed to continue the dialogue taking into account the program put forward by the Chinese Chamber of Commerce for the import and export of engineering and electronic products. In particular, calls will be held via video conference. It is expected that this will allow Beijing and Brussels to strengthen mutual trust and reach consensus, as well as resolve differences to avoid further trade tensions.
On July 4, the EU introduced duties ranging from 17.4% to 37.6% on electric vehicles from China. As reported by the European Commission, they were imposed based on the results of an investigation into the fight against “illegal subsidies,” which lasted 9 months. The EU’s highest regulatory body clarified that consultations with China on this issue “have intensified in recent months,” and that the European side intends to reach a settlement in accordance with norms World Trade Organization. On October 29, the EC agreed to introduce appropriate tariffs of up to 35.3%, which will be in force for five years.
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2024-11-08 11:01:00
