EU-China In Last Gasp Bid To Avoid EV-Driven Trade War

9/28/2024 12:04:50 AM

(MENAFN- Asia Times) China has suggested setting minimum prices for the electric vehicles (EVs) it ships to the European Union, a compromise bid to persuade the bloc to drop plans to impose 17-35.3% tariffs on Chinese EVs.

The European Commission planned to vote on the proposed tariffs on September 25 but delayed it without explanation. NIKKEI reported that the vote will be held within the week beginning September 30.

The vote's delay came after Chinese Minister of Commerce Wang Wentao met with European Commission Executive Vice President and Trade Commissioner Valdis Dombrovskis in Brussels on September 19.

”Both sides agreed to intensify efforts to find an effective, enforceable and WTO-compatible solution to the battery EV case,” Dombrovskis said in a post on X on September 19.“This without prejudice to the EU investigation and its deadlines.”

He Yongqian, a Chinese Ministry of Commerce spokesperson, said in a media briefing on Thursday (September 26) that both China and the EU have clearly expressed political willingness to address disputes through consultations.

During the Wang-Dombrovskis talks, the two sides agreed to push forward negotiations on a“price commitment agreement“ and fully commit to achieving a mutually acceptable solution through amicable dialogue and consultations, she said.

“Currently, technical teams from both sides are actively discussing a flexible price commitment solution, following the direction set during the talks,” she said.“They are striving to reach a consensus on a solution framework before the final ruling.”

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