The EU increased tariffs on electric vehicles manufactured in China to 45.3% in October, but Brussels and Beijing have raised the idea of lifting tariffs through possible minimum price commitments.
The European Union and China have agreed to study minimum prices establishment for electric cars manufactured in China instead of duty Taxes for the EU last year, a spokesman for the European Commission reported.
The German newspaper Handelsblatt had reported early on Thursday from the beginning of the negotiations.
The EU Commission of Commerce, Maros Sefcovic, spoke with Chinese Minister Wang Wentao, in the last 24 hours and both parties agreed to study the minimum price setting, said the EU spokesman.
The Chinese Ministry of Commerce said in a statement that the negotiations were going to begin “immediately.”
Sefcovic has already said that The minimum prices must be as effective and applicable as EU tariffs.
The EU increased tariffs on electric vehicles manufactured in China to 45.3% in October, but Brussels and Beijing have raised the idea of lifting tariffs through possible minimum price commitments.
The European Commission has said that it is willing to continue negotiating with China an alternative to tariffs, which included levies of 17.0% for vehicles manufactured by ByD, 18.8% for Geely and 35.3% for SAIC, in addition to the standard right of EU cars of 10%.
Source: Ambito
I’m a recent graduate of the University of Missouri with a degree in journalism. I started working as a news reporter for 24 Hours World about two years ago, and I’ve been writing articles ever since. My main focus is automotive news, but I’ve also written about politics, lifestyle, and entertainment.
