The Los Angeles Post
U.S. World Business Lifestyle
Today: April 07, 2025
Today: April 07, 2025

China hopes for EV tariff deal with EU that suits both sides

FILE PHOTO: BYD electric vehicles at the port of Lianyungang
June 27, 2024
Reuters - Reuters

BEIJING (Reuters) -China hopes negotiations will lead to a "mutually acceptable solution" with the European Union on preliminary tariffs on Chinese electric vehicles (EV) scheduled to take effect on July 4, its commerce ministry said on Thursday.

Beijing wants the EU to scrap plans to impose the curbs, Chinese state media reports, but Brussels has made clear that it expects China to come to technical talks taking place this week with a road map for "addressing the injurious subsidisation" of its EV industry if there is to be a negotiated outcome.

China has long rejected accusations of unfair subsidies, saying the development of its EV industry has been the result of advantages in technology, market and industry supply chains.

China hopes for EV tariff deal with EU that suits both sides
FILE PHOTO: PetroChina EV charging station in Beijing

"At present, the two sides' working teams are in close communication and stepping up their consultations," said He Yadong, a commerce ministry spokesperson, at a regular news conference.

"It is hoped that the EU and China will work in the same direction ... and reach a mutually acceptable solution to avoid the escalation of trade frictions adversely affecting China-EU economic and trade relations," he added.

The commerce ministry also said it had received and was reviewing materials submitted on behalf of China's electronic products industry concerning an EU trade barriers investigation.

(Reporting by Joe Cash and Beijing Newsroom; Editing by Christopher Cushing and Mark Potter)

Share This

Popular

Business|Economy|Finance|Political|Stock Markets|US

Hear what Trump says about tariffs as stock futures plummet

Hear what Trump says about tariffs as stock futures plummet
Asia|Business|Economy|Stock Markets

Taiwan stocks plummet, exchange to take more stabilisation steps if needed

Taiwan stocks plummet, exchange to take more stabilisation steps if needed
Asia|Business|Economy|Political|US

Bill Ackman warns Trump is losing business leaders' confidence

Bill Ackman warns Trump is losing business leaders' confidence
Asia|Business|Economy|Finance

Goldman Sachs expects further fiscal easing from China to offset higher tariffs

Goldman Sachs expects further fiscal easing from China to offset higher tariffs

Economy

Asia|Business|Economy|Finance|Political|Stock Markets

Asian markets plunge with Japan's Nikkei diving nearly 8% after the big meltdown on Wall St

Asian markets plunge with Japan's Nikkei diving nearly 8% after the big meltdown on Wall St
Business|Economy|Finance|Political|Stock Markets|US

Brown challenges Lutnick: Will Trump back down on tariffs?

Brown challenges Lutnick: Will Trump back down on tariffs?
Business|Economy|Finance|Political|US

JPMorgan executive says inflation and recession likely from tariffs

JPMorgan executive says inflation and recession likely from tariffs
Business|Economy|Finance|Political|Stock Markets|US

Global stock markets tumble, bonds rally on recession fear

Global stock markets tumble, bonds rally on recession fear