EU, China consult on Chinese-made EVs tariffs
Date
6/23/2024 4:45:39 AM
(MENAFN) In a move to address growing tensions over trade tariffs, the Chinese Ministry of Commerce announced on Saturday that Minister of Commerce Wang Wentao and the European Union Trade Commissioner have agreed to initiate consultations regarding the European Union's imposition of duties on imported Chinese-made electric vehicles. According to the ministry's website, this decision follows an invitation extended to Wang Wentao for a video conference with EU representative Valdis Dombrovskis. This development marks a significant step towards potentially resolving the trade dispute that has arisen over the EU's concerns about what it perceives as substantial government subsidies provided to Chinese electric vehicle manufacturers.
Further highlighting the importance of these consultations, German Economy Minister Robert Habeck, during his visit to China, emphasized the EU's willingness to engage in discussions about the customs duties on Chinese exports. Habeck's visit represents the first by a high-ranking European official since the European Union proposed the imposition of substantial tariffs on Chinese electric cars, a measure intended to counteract what the EU views as unfair competitive advantages derived from state support. Speaking in Shanghai, Habeck expressed optimism about the dialogue, noting that there is a window of opportunity until November for meaningful discussions between the EU and China on the matter of customs duties. He reiterated his belief in the principle of open markets, asserting that such markets must provide equal opportunities for all participants. This ongoing dialogue between the EU and China signifies a critical juncture in international trade relations, as both parties seek to balance fair competition with economic cooperation.
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