EU negotiators head to China hoping to curb cheap imports of hybrid electric cars
Summary
EU trade negotiators are visiting China to try to reduce China's large trade surplus by limiting cheap hybrid electric car exports to Europe. They aim to reach an agreement during talks before an EU leaders’ meeting next week, focusing on a pilot deal for car imports that could expand to other sectors.Key Facts
- The EU wants to reduce China's £1bn-a-day trade surplus by addressing cheap hybrid electric car exports.
- Trade Commissioner Maroš Šefčovič leads talks in China starting Wednesday and lasting two days.
- The EU hopes for concrete results before the EU leaders’ meeting in Brussels next Thursday.
- The deal would start as a "pilot" in the car sector and might extend to other industries later.
- China quickly adapts to EU trade barriers, such as after EU tariffs on Chinese electric vehicles led to increased hybrid car exports.
- The EU requested China to voluntarily limit hybrid car exports or face possible quotas and safeguards.
- Germany and France support stronger EU trade defense tools, including a new “kill switch” to quickly protect European markets.
- The talks will test China's willingness to make serious offers to address Europe's concerns about trade and industry threats.
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