The European Union (EU) and China have agreed to intensify negotiations to find a solution regarding the additional tariffs imposed on electric vehicles produced in China.
This intensification of negotiations comes at a time when Brussels plans to vote next week on the imposition of tariffs, although the vote may be postponed.
Valdis Dombrovskis, European Commissioner for Trade, quoted by the agency “Bloomberg”, stated at the end of the meeting with China’s Minister of Commerce, Wang Wentao, that both sides intend to continue the discussions “without prejudice to the EU’s investigation and its timelines”.
The EU has made it clear to China that it will continue the formal investigation into the subsidies provided by the Beijing government to Chinese electric vehicle manufacturers, but “both sides agreed to reassess pricing commitments”, according to Olof Gill, spokesperson for the European Commission.
For its part, the Chinese Ministry of Commerce stated that both sides will continue to discuss a possible agreement and are committed to finding a solution, while making it clear that it will respond to the EU’s tariffs with “necessary measures”.
Remember that Brussels imposed measures in July to combat “illegal subsidies from Beijing to the Chinese electric vehicle industry”, starting to apply additional tariffs on imported Chinese vehicles. These customs duties are provisional but may become permanent in November if the European Union (EU) does not reach an agreement with Beijing.
For the three manufacturers that participated in the commission’s sample during the investigation, the European Union (EU) has applied tariffs of 17.4% to the manufacturer BYD, 20% to Geely, and 37.6% to SAIC.
