EU, China Reach Understanding That Could Halve Chinese Hybrid Car Exports
The European Commission is under pressure to deliver tangible results in rebalancing trade relationships with Beijing.
TL;DR
- The EU and China have reached a "shared understanding" regarding Chinese hybrid car exports.
- This agreement aims to moderate exports of hybrids and plug-in hybrids to the European Union.
- The deal could result in a reduction of more than half of China's hybrid car exports to the EU.
- The agreement was reached after intense negotiations between EU and Chinese trade representatives.
- European Trade Commissioner Maros Sefcovic made the announcement in Beijing on October 9th.