In a significant move towards easing trade tensions, China's Commerce Minister Wang Wentao and Valdis Dombrovskis, Executive Vice President of the European Commission, have agreed to commence consultations regarding the European Union's anti-subsidy investigation into Chinese electric vehicles (EVs).
The agreement was reached during a video conference between the two officials, as stated in a press release from the Ministry of Commerce. This step marks a proactive effort to address the concerns surrounding the EU's probe into Chinese EV subsidies.
On the same day, Minister Wang also held discussions with German Vice Chancellor Robert Habeck. Emphasizing the importance of dialogue, Wang expressed China's willingness to consider reasonable concerns from both parties to prevent the escalation of trade frictions. \"China is ready for dialogue and consultations on EVs if the European Union is willing to engage sincerely at the negotiating table,\" Wang stated.
Minister Wang highlighted the deep economic interdependence between China and Germany, noting that this year marks the 10th anniversary of their comprehensive strategic partnership. He expressed hope that Germany would take a positive role within the EU to encourage a cooperative approach towards resolving the subsidy investigation.
However, Wang also warned that if the EU persists with its current stance, China may resort to necessary measures, including filing a case under the World Trade Organization's dispute settlement mechanism, to defend its legitimate interests.
German Vice Chancellor Habeck echoed the importance of maintaining open channels of communication. He voiced concerns that the EU's anti-subsidy investigation could hinder Europe's green transition and negatively impact consumer interests. Habeck stressed that imposing tariffs could lead to a worsening spiral of trade frictions, advocating instead for dialogue and consultations as the optimal path to resolving such issues.
This development underscores the critical balance between fostering sustainable technological advancements and maintaining fair trade practices on the global stage.
Reference(s):
China, EU agree to launch consultations on EV subsidy investigation
cgtn.com
