EU deal with China limits imports of hybrid electric vehicles
Summary
The European Union has agreed to limit the number of hybrid electric vehicles imported from China to 350,000 per year starting in December. This quota aims to reduce China’s current market share in the EU by half and is part of a broader trade agreement including cuts on some Chinese tariffs for EU goods.Key Facts
- The EU will limit hybrid electric vehicle imports from China to 350,000 cars annually.
- Currently, about 800,000 battery and plug-in hybrids from China are expected to be sold in the EU this year.
- The new quota is set to cut China’s hybrid vehicle market share in the EU from 6% by half.
- The quota uses World Trade Organization safeguards, allowing quick enforcement without long investigations.
- Cars imported above the quota will not face extra taxes but will be held at customs in Europe.
- Chinese-made or assembled cars within the EU (e.g., in Hungary or Spain) are exempt from the quota.
- China agreed to reduce some tariffs on EU auto parts, footwear, olive oil, and ice cream as part of the deal.
- The EU’s move comes amid concerns over a large trade deficit and worries about losing industrial jobs.
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