China and the EU have reached a "technical consensus" in their negotiations, according to a new media outlet affiliated with China Central Television (CCTV). The talks aim to reduce or eliminate the EU's tariffs on Chinese-made electric vehicles.
The two sides are working towards an agreement on a "price commitment," a complex mechanism designed to regulate the price and quantity of automobile exports, which would replace anti-subsidy tariffs.
From November 2 to 7, China-EU technical teams held five rounds of consultations in Beijing, engaging in in-depth discussions about the specific details of the EU's price commitment plan for anti-subsidy cases involving Chinese electric vehicles. After the meetings, both parties stated that they had made "technical progress," particularly concerning the price commitment framework and the mechanism for implementing the agreement. They also confirmed that negotiations would continue.
At the end of October, the European Commission imposed tariffs of up to 45.3% on electric vehicles imported from China to protect its automotive industry. However, EU member states remain divided in their opinions on the proposal to impose such tariffs.