According to a report by Automotive News, the European Union (EU) and China have agreed to settle their dispute over the EU’s decision to impose additional tariffs on electric vehicles (EVs) imported from China.
A spokesperson from China’s Ministry of Commerce stated that Chinese EV manufacturers have committed to selling their vehicles in the EU at prices above a set minimum. This agreement was reached following discussions between China’s Minister of Commerce, Wang Wentao, and Valdis Dombrovskis, the European Commission’s Executive Vice-President and Trade Commissioner, in Brussels last week.
Previously, the commission had dismissed this proposal, as reported by Reuters. The spokesperson added:
“Technical teams from both sides are currently negotiating a flexible pricing commitment plan and are working hard to finalize a solution framework before the EU makes its final ruling on EV tariffs.”
In June, the European Commission proposed additional tariffs of up to 38.1% on Chinese-made EVs imported into the EU. This prompted negotiations between several Chinese EV manufacturers, resulting in reduced tariffs for companies such as BYD, Geely, and SAIC.
The European Commission is set to vote in October on whether to impose additional duties on Chinese EVs, beyond the existing 10% import tariff. A final decision is expected by the end of the month.
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