From Dw · · 50s
China EU Car Export Deal
China and EU agree to cut Chinese hybrid car exports to EU by over half.
In brief
China and EU agree to cut Chinese hybrid car exports to EU by over half. China and EU reached a deal to reduce Chinese hybrid car exports to the EU by more than half over four years. Originally reported by Dw.
EU-China Trade Deal
European Trade Commissioner Maros Sefcovic announced China and EU reached a deal to moderate chinese exports of hybrid cars to the eu.
“moderate china's export of hybrids and plug-in hybrids to the eu”
Export Reduction Target
The deal projects cutting chinese hybrid car exports to the eu by more than half over a four-year period.
“by this step, we're actually preventing several millions of cars exports from china to the european union”
Trade Deficit Reduction
The agreement also reduces import duties on €4 billion worth of eu exports including car parts and olive oil.
“reducing chinese import duties on €4 billion worth of eu exports”
Rare Earths Agreement
China's process for granting export licenses for rare earths and permanent magnets will be simplified.
“simplify china's process for granting export licenses for rare earths and permanent magnets”
The key point
China and EU reached a deal to reduce Chinese hybrid car exports to the EU by more than half over four years.
