From POLITICO · · 1m
China and EU reach hybrid car deal
After talks in Beijing, China and the EU announce an agreement on hybrid vehicle exports to avert further EU trade measures.
In brief
After talks in Beijing, China and the EU announce an agreement on hybrid vehicle exports to avert further EU trade measures. China and the EU agreed on hybrid car exports after talks in Beijing, part of EU efforts to reduce its one billion euro daily trade deficit with China. Originally reported by POLITICO.
China and EU agree on hybrids
China's trade ministry announced Friday that China and the EU reached an agreement on hybrid vehicle exports after two days of talks in Beijing between EU trade commissioner Maroš Šefčovič and Chinese government officials.
“After intensive consultations, both sides have reached an agreement on trade in hybrid vehicles, which is in line with World Trade Organization rules.”
EU seeks to cut trade deficit
The EU is trying to reduce its trade deficit with China of one billion euros per day and ease pressure from European industry.The deal aims to prevent further EU protective measures against Chinese car exports.
EU leaders to review results
Šefčovič will brief journalists in Beijing shortly. EU heads of state and government will review the results of the trade talks at their meeting next Thursday in Brussels.
What it means
China and the EU agreed on hybrid car exports after talks in Beijing, part of EU efforts to reduce its one billion euro daily trade deficit with China.
