EU, China close to agreement on EV tariffs

Berlin: The EU and China are close to reaching an agreement on the tariffs imposed on Chinese EV exports to the bloc. Member of the European Parlia...

Berlin: The EU and China are close to reaching an agreement on the tariffs imposed on Chinese EV exports to the bloc.

Member of the European Parliament Bernd Lange said the two sides were close to an agreement, pointing out that China might agree to sell EVs in the EU at a minimum price.

The European Union decided last October to increase tariffs on electric cars manufactured in China to up to 45.3 percent, a move that caused division within Europe and sparked retaliatory reactions from Beijing. The EU said that the tariffs were to face what it believes was unfair support that included preferential financing, grants, and raw materials sold below market prices.

Despite the tariffs going into effect, the two sides are engaged in negotiations to resolve the matter.