China and the European Union (EU) have reached “technical consensus” following talks aimed at scaling back or reversing tariffs applied to made-in-China electric vehicles (EVs), Bloomberg reports.
Citing a posting on a Weibo account affiliated with the state-run China Central Television (CCTV), the two sides are said to be exploring an agreement on so-called price undertakings, which is a complex mechanism to control prices and volumes of exports in order to avoid tariffs.
Five rounds of talks were held in Beijing involving Chinese and EU technical teams from November 2 to 7, according to Global Times. A Chinese commerce ministry spokesperson said progress was made in negotiations on a proposed price commitment plan relating to China-made EVs.
“The consensus on the price commitment framework refers to some certain agreements reached by both parties in this round of negotiations about the overall framework, which also indicates that both parties are willing to focus their resources on negotiating core interests and strive towards the same goal,” CCTV reported last Saturday.
The application of new European Union tariffs on Chinese-built electric vehicles began in end-October, with the levies applied being as high as 45.3% depending on the automaker.
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Well what can I say at least have the balls to be different from that guy coming up next year – now lets see how it goes for both.
Stupid gweilou kowtow to china
Do you gladly provides bread and milk for every european households?
EU need China more than ever after Trump won the election. Trump will surely impose tariff on EU vehicles.
Lol, CCTV
Sudah takut la tu EU. Nak play tough guy. If EU sanction China and Trump sanction EU, EU = Game Over
No balls.
lol…
Learn from Malaysia
Presiden
Party Ketuanan Sedunia
Ahli : 3
Best car are from EU
Citroen, Peugeot, Renault
Haha Tofuland had to comply