From The Japan Times · No Author · · 40s
China EU cut hybrid car exports
China and EU agree to slash Chinese hybrid car exports by over half.
In brief
China and EU agree to slash Chinese hybrid car exports 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 The Japan Times.
China EU strike deal
China and the European Union reached a deal to halve Chinese hybrid car exports to the bloc.
“The "shared understanding" would "moderate" China’s export of hybrids and plug-in hybrids to the EU”
Export reduction target
The agreement aims to cut imports of several million cars over four years.
“would cut the imports of several million cars over four years”
EU trade commissioner
Maros Sefcovic, EU trade commissioner, announced the deal after Beijing talks.
“Maros Sefcovic, the EU trade commissioner, speaks to journalists during a news conference in Beijing on Friday”
Market reaction
European carmakers' shares rose after the deal was announced.
“Shares of European carmakers, which have slid steadily over the past two years due to U.S. tariffs and soaring Chinese exports, broadly gained on the news”
What matters most
China and EU reached a deal to reduce Chinese hybrid car exports to the EU by more than half over four years.
