China and Europe agree to cut Chinese hybrid vehicle exports by half
Europe's trade chief Maroš Sefčovič cast the two days of talks with China's Commerce Minister Wang Wentao in Beijing as a positive first step.
TL;DR
- China has agreed to cut its hybrid car exports to the EU by half.
- The EU has expressed concerns over its widening trade surplus with China.
- Licenses for rare earth and permanent magnet exports to the EU were also discussed.
- Future meetings are scheduled, including a video conference in January and another meeting in March.