China has announced that talks with the European Union on setting minimum prices for Chinese electric vehicles have entered their final phase, although further work is still needed to reach an agreement.
The negotiations are part of the trade tensions that have arisen from the imposition of high tariffs by the EU in 2023, on the grounds of state subsidies that, according to Brussels, offer an unfair competitive advantage to Chinese car manufacturers.
According
to China's Ministry of Commerce, "an important step in the right direction for a proper resolution" of the issue was taken during a meeting held this month in France between Chinese Trade Minister Wang Wentao and EU Trade Commissioner Maroš Shevčović.
The statement added that the two sides have mandated technical working groups to step up efforts to find a solution that is consistent with each country's legislation and World Trade Organization (WTO) rules.
China is trying to avoid further trade measures that hurt its export strategy in the electric vehicle sector, as the European market is seen as critical. However, as recent data shows, China's ambitious "opening" to Europe has already been halted, due to both tariffs and a slowdown in demand.
