EU and China to hold talks on setting a minimum price for Chinese-made electric vehicles
A European Commission spokesman said on Thursday, April 10, that the EU and China have reached an agreement to explore the possibility of establishing a minimum price mechanism for electric vehicles made in China as an alternative to the additional tariff measures decided by the EU last year.
Reuters cited a report from Germany's Handelsblatt, stating that related negotiations have already started.
The EU spokesman said on Thursday that EU Trade Commissioner Šefčovič had held talks with China's Minister of Commerce in the past 24 hours. Both sides have agreed to discuss the feasibility of setting a price floor.
The Ministry of Commerce of China also stated in Beijing that relevant negotiations will "immediately start".
Šefčovič previously emphasized that any form of price floor must be equivalent to current tariff measures in terms of effectiveness and verifiability.
The EU has imposed a maximum tariff of 45.3% on imported electric vehicles from China since October last year. In response, China has taken countermeasures against the EU's tariff measures, including punitive measures against French Cognac, which has impacted the exports of well-known French wine companies such as Hennessy and Rémy.
The EU said it is willing to discuss alternatives to replace tariffs with China.
Reuters reported that the EU-China talks on Chinese electric vehicles were launched under pressure from the US increasing tariffs on Chinese goods. Recently, Trump announced a three-month suspension of "reciprocal tariffs" for countries other than China. However, Chinese goods will face further tax increases.
Source: https://www.toutiao.com/article/1829060996919299/
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