Tariffs/Trade

China's MOFCOM, on EU trade talks, says under the trade and investment consultation mechanism has yielded several achievements and consensuses

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MOFCOM described consensus on hybrid and electric vehicle trade, including quota and non-discrimination terms; separate reporting mentioned a broader 16-point consensus and hybrid-car export curbs.

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Based on the principles of mutual respect and equal consultation, both sides conducted intensive consultations on trade in hybrid and electric vehicles, balancing trade differences and mutual concerns. No measures will be specifically targeted at Chinese products, let alone discriminatory treatment of Chinese companies. China's quota will not be lower than that of any other EU import source. On the basis of equality and mutual benefit, the above consensus effectively safeguards the actual interests of Chinese enterprises, prevents the escalation of trade frictions between China and the EU.

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