Great progress can be achieved at the negotiation table. China's Ministry of Commerce has announced that the authorities hope to strike a deal with the European Union regarding the tariffs that EU lawmakers plan to impose on imported Chinese electric vehicles.
In mid-June, the European Commission warned that if negotiations with China fail, the EU authorities will introduce additional duties on imported Chinese electric vehicles. These restrictions will be valid from July 4, with final measures taking effect four months later.
However, "the European side will work with China to meet each other halfway and reach a mutually acceptable solution as soon as possible," Ministry spokesperson He Yadong said. He reminded that China disagrees with the EU's anti-subsidy investigation and added that both sides have four months to come to a common denominator. According to spokesperson He Yadong, several rounds of negotiations have been already held, but the results are still unknown.
To recap, in 2023, the European Union launched an investigation into the role of state subsidies in the production of electric vehicles in China. The American Center for Strategic and International Studies estimated that over the past decade, China’s government has spent $230.8 billion on developing the electric vehicle industry.
The groundbreaking vehicle industry, which includes hybrid cars and battery-electric vehicles, is rapidly progressing in China. Automakers like BYD have begun exporting their products to Europe and other parts of the world.
