Brussels and Beijing near deal on EV tariffs

Brussels and Beijing are close to reaching an agreement on tariffs for Chinese electric vehicle imports into the European Union, according to Bernd Lange, chair of the European Parliament’s trade committee.

"We are close to an agreement: China could commit to offering e-cars in the EU at a minimum price," Bernd Lange told n-tv, without elaborating. "This would eliminate the distortion of competition through unfair subsidies, which is why the tariffs were originally introduced," News.Az reports, citing Reuters.

The European Commission was not immediately available for comment.

The European Union last month decided to increase tariffs on Chinese-built electric vehicles to as much as 45.3% in its highest-profile trade investigation, a move that has divided Europe and triggered retaliation from Beijing.

The tariffs, which became effective on Oct. 30, were imposed to counter what it says are unfair subsidies including preferential financing and grants as well as land, batteries and raw materials at below market prices.

Despite the tariffs coming into force, both sides have continued negotiations to find a solution, fuelling hopes primarily among German carmakers — which heavily depend on the Chinese market — that a trade dispute can be averted.

China's Chamber of Commerce to the EU at the time said it was profoundly disappointed by the "protectionist" and "arbitrary" EU measure.

News.Az