World · 17 hrs ago
China and the EU seek common ground on hybrid vehicle trade
China and the European Union reached an understanding on Friday about limiting trade in hybrid vehicles.
The move comes amid long-running trade disputes between the two sides.
China also signalled it would cut tariffs on European products and make rare-earth export licences easier to obtain.
China has strong influence over supplies of raw materials, while the EU can impose charges on imports.
China is also seeking to rely less on exports and address a price war among its vehicle makers.
The closer approach suggests both sides see value in finding common ground, although EU countries have differing views on China.
China and the European Union reached an understanding on Friday about limiting trade in hybrid vehicles.
The approach also includes China’s willingness to reduce tariffs on European products.
China also wants to make export licences for rare earths easier to obtain.
The article says China seeks to reduce its reliance on exports over time and boost domestic consumption.
It also says competition among Chinese vehicle makers has led to a price war.
- Who
- China and the European Union.
- What
- They reached an understanding about limiting trade in hybrid vehicles.
- When
- Friday; the specific date is not stated.
- Where
- Not stated.
- Why
- The article says both sides have an interest in reaching common ground.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
This story does not have a timeline yet.
- Parties
- China and the European Union
- Trade issue
- Limiting trade in hybrid vehicles
- Other trade measures
- China is willing to reduce tariffs on European products and ease rare-earth export licences
Sources
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