EU and China to resume talks on Chinese electric cars pricing
In light of the American tariffs on cars imported to the United States, China and the European Union plan to resume talks concerning the minimum prices of Chinese electric vehicles in Europe. This decision was made after a meeting of trade ministers from both sides.
According to Chinese Ministry of Commerce spokesperson He Yadong, during last week's discussions, representatives from China and the European Union agreed to resume negotiations about minimum price commitments for Chinese electric cars as soon as possible.
The head of the Chinese ministry, Wang Wentao, and his EU counterpart, Maros Sefcovic, met in Beijing to discuss economic and trade issues. Both parties agreed to maintain regular communication at the ministerial level and to strengthen the exchange of information on key economic issues.
By the end of October 2024, the European Union had implemented higher import tariffs on Chinese electric cars.
The new tariffs, which range from 7.8 to 35.3 percent, are in addition to the already existing 10 percent tariffs. This decision was made in response to China subsidizing production, which enabled lower car prices and represented unfair competition for European manufacturers.
Investigations into unfair practices
In response to the actions of the European Union, China has launched its own investigation into unfair trade practices, including those involving European dairy and pork.
Europe remains the main recipient of Chinese electric vehicles, accounting for about 40 percent of production.
Chinese Ministry of Commerce spokesperson He Yadong stated that both parties have designated contact persons and instructed their working teams to focus on key economic and trade issues. The goal is to prepare for the next stage of high-level exchanges between China and the EU.
