China allowed to sell maximum of 350,000 hybrid cars to EU annually
The European Union and China have agreed to cap Chinese hybrid vehicle imports at 350,000 units annually for the next four years to protect the European market. Additionally, China will drop import tariffs on several EU products, providing an estimated 4 billion euros in benefits to European industries.
The European Union and China have reached a four-year agreement to limit Chinese hybrid vehicle exports to Europe at a maximum of 350,000 units annually, with a permitted yearly growth of 6 percent. This deal, negotiated by EU Commissioner Maroš Šefčovič and Chinese Trade Minister Wang Wentao, aims to protect the European automotive market after exports of such vehicles to the EU tripled in the first half of this year. The measure comes as Brussels seeks to address a daily trade deficit with China of approximately 1 billion euros.
In conjunction with this limit, both parties agreed to eliminate specific Chinese import tariffs on European products such as automotive parts, footwear, ice cream, and olive oil for the next four years. EU officials estimate that removing these levies will benefit the European economy by 4 billion euros. This broader trade strategy follows the 2024 implementation of extra tariffs on fully electric Chinese cars, which the EU accused of benefiting from unfair government subsidies.
Based on reporting by nu. Translated and condensed by LocalHeadlines.
