China and the EU are nearing a deal to lift tariffs on Chinese electric vehicle (EV) imports into the bloc, according to Bernd Lange, the chair of the European Parliament’s trade committee, as reported by German broadcaster n-tv.
Lange said n-tv that Beijing and Brussels are getting close to an agreement where China would commit to selling e-cars in the EU at a reasonable price, as reported by the media, without giving any other specifics. According to the European source cited by Reuters, “this would eliminate the distortion of competition through unfair subsidies, which is why the tariffs were originally introduced.”
As of this writing, Lange’s remarks have not received a response from the European Commission (EC) or China’s Ministry of Commerce (MOFCOM).
If the rumors are accurate, it is a “positive” action because it advances the social and economic interests of both sides. In addition to encouraging more Chinese companies to create offices in the EU, Wang Yiwei, a professor at Beijing’s Renmin University of China, told the Global Times that it might help the EU attract foreign investment and accelerate its green transformation.
During five rounds of negotiations in Beijing from November 2–7, Chinese and EU technical teams discussed in detail the pricing commitment plan provided by the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, according to a MOFCOM official.
It is hoped that as the negotiations go, the EU would take into account the bigger global trend toward sustainable and green development, the long-term prospects for trade and economic relations between China and the EU, and the potential benefits for the EU economy, Wang Yiwei said.
