China and the European Union are currently in intensive consultations aimed at finalizing price commitments for Chinese electric vehicles (EVs), according to a spokesperson from the Chinese Commerce Ministry on Thursday.
He Yongqian made the statement during a press conference addressing questions about the EU's recent imposition of tariffs on Chinese EVs. The EU technical team arrived in Beijing on November 2, initiating detailed negotiations between both parties.
\"Currently, both parties are engaged in intensive negotiations on the specific details of the price commitments, following the principles of pragmatism and balance,\" He Yongqian said.
These talks follow an October 25 video call where Chinese Commerce Minister Wang Wentao and European Commission Executive Vice President and Trade Commissioner Valdis Dombrovskis reaffirmed their commitment to resolving differences through dialogue. Both sides clarified that price commitments would remain a central solution to the EU's anti-subsidy case against Chinese EVs.
Despite these ongoing discussions, on October 29, the EU announced the imposition of definitive countervailing duties of up to 35.3 percent on Chinese EVs for a duration of five years. Nevertheless, the EU has indicated that it will continue consultations with China regarding these price commitments.
Responding to the EU's final ruling on the countervailing measures, China announced on November 4 that it has officially appealed the decision to the World Trade Organization (WTO).
The outcome of these negotiations could have significant implications for the global EV market and the broader trade relations between China and the EU, two of the world's largest economies.
Reference(s):
China in 'intensive' consultations with EU on EV price commitments
cgtn.com
