Bernd Lange, the chair of the European Parliament’s trade committee, was quoted by German broadcaster n-tv as saying that China and the EU are getting close to reaching an agreement to remove tariffs on Chinese electric vehicle (EV) imports into the bloc.
Without providing further details, Lange told n-tv that Beijing and Brussels are nearing an agreement wherein China would promise to sell e-cars in the EU at a low cost, as reported by the media. “This would eliminate the distortion of competition through unfair subsidies, which is why the tariffs were originally introduced,” the European official quoted by Reuters said.
As of this writing, neither China’s Ministry of Commerce (MOFCOM) nor the European Commission (EC) had responded to Lange’s comments.
It is a “positive” move since it benefits both parties’ social and economic interests, if the reports are true. Wang Yiwei, a professor at Beijing’s Renmin University of China, told the Global Times that it might assist the EU draw in foreign investment and quicken its green transition while also encouraging more Chinese businesses to open offices in the EU.
According to a MOFCOM official, Chinese and EU technical teams engaged in extensive discussions on the details of the pricing commitment plan provided by the China Chamber of Commerce for Import and Export of Machinery and Electronic Products during five rounds of negotiations in Beijing from November 2–7.
According to Wang Yiwei, it is hoped that the EU will consider the long-term prospects for trade and economic relations between China and the EU, the potential benefits for the EU economy, and the larger global trend toward sustainable and green development as the negotiations continue.