BERLIN: The European Union and China have agreed to look into setting minimum prices on Chinese-made electric vehicles instead of tariffs imposed by the EU last year, a European Commission spokesperson said on Thursday (Apr 10).
German newspaper Handelsblatt reported earlier on Thursday that negotiations had begun.
EU trade commissioner Maros Sefcovic spoke with China’s commerce minister Wang Wentao in the last 24 hours and both sides agreed to look into setting minimum prices, the EU spokesperson said.
China’s commerce ministry said in a statement that negotiations were set to start “immediately.”
Sefcovic has previously said any minimum prices would need to be as effective and enforceable as the EU tariffs.
The EU increased tariffs on Chinese-built EVs to as much as 45.3 percent last October, but Brussels and Beijing have floated the idea of lifting the tariffs through possible commitments to minimum prices, known as price undertakings for imported cars.
