China and the European Union have reached an important consensus in negotiations on the case against Chinese electric vehicle subsidies. The Chinese Ministry of Commerce reported on the latest developments.
According to the ministry, there have been several rounds of negotiations between the two sides conducted in a spirit of mutual respect. The aim was to fulfil the consensus reached at the level of the leaders of China and the EU and to find a sound and balanced solution to the existing trade frictions.
China and the EU have agreed on the need to establish guidelines for price commitments by Chinese exporters of battery electric vehicles bound for the European market. This framework is intended to allow Chinese manufacturers to respond to relevant concerns through more practical and targeted measures, while fully respecting World Trade Organisation (WTO) rules.
Upon completion of the negotiations, the European Party will issue formal instructions for the submission of requests for price commitments. In the forthcoming document, the EU will reaffirm its commitment to the principle of non-discrimination, apply uniform legal standards to all applications in line with WTO rules and ensure that all assessments are conducted objectively and impartially.
The Ministry of Commerce said that the progress made reflects the constructive spirit of dialogue and the positive results of recent bilateral consultations. It also confirmed that both China and the EU have the ability and willingness to resolve differences through consultations within WTO mechanisms.
Such an approach, according to the Ministry, is key to maintaining the stability of the automotive industry and global and regional supply chains. The successful resolution of this case should also contribute to the healthy development of economic and trade relations between China and the EU and to the maintenance of an international trade order based on clear rules.
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