China, EU discuss price commitment plan for EVs

(MENAFN) China and the European Union (EU) are engaged in active discussions over a price commitment plan for Chinese electric vehicles (EVs), according to the Ministry of Commerce (MOC). MOC spokesperson He Yongqian made this announcement during a press conference on Thursday, detailing that the EU technical team arrived in Beijing on November 2 to participate in these consultations. The negotiations are based on the principles of “pragmatism and balance,” with both sides working towards a resolution on the ongoing trade tensions surrounding the EV sector.

This development follows the EU’s decision to impose tariffs on Chinese electric vehicles, which was announced on October 29. Despite the tariffs, the EU has emphasized its commitment to continue consultations with China, with the goal of reaching a price commitment agreement. These talks are seen as crucial in resolving the EU’s anti-subsidy case against Chinese EVs, which has become a significant point of contention in EU-China trade relations.

The dialogue between the two sides was further underscored by a video-link discussion on October 25 between Chinese Commerce Minister Wang Wentao and European Commission Executive Vice President and Trade Commissioner Valdis Dombrovskis. During the meeting, both parties reaffirmed their political will to resolve the differences through dialogue, stressing that a solution would be found through the price commitment process. Both sides made clear their dedication to addressing the EU’s concerns without escalating tensions further.

These consultations come at a time when China’s EV industry is facing increasing scrutiny in global markets, particularly in Europe, where the EU has expressed concerns over possible subsidies distorting competition. The discussions are an important step in finding a balanced solution that addresses the EU’s concerns while allowing China to maintain its growing presence in the global electric vehicle market. The outcome of these talks will likely have significant implications for trade relations between China and the EU moving forward.

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