Beijing and Brussels on Monday announced a milestone in resolving their years-long trade
dispute over Chinese electric vehicles, with the European Union releasing a guidance document set to address the countervailing tariffs it levied in 2024.
The European Commission issued the document for Chinese exporters on submitting price undertaking offers. It said they can strengthen their proposals by committing to annual shipment volumes and planned future investments in the EU.
The commission will conduct each assessment in an objective and fair manner, following the principle of non-discrimination and in accordance with World Trade Organization rules, it added.
The EU launched an anti-subsidy probe into Chinese EVs in October 2023, and concluded a year later by imposing countervailing duties ranging from 7.8 to 35.3 per cent over a five-year period. While the tariffs remain in place, they could be replaced with minimum import prices under the new scheme.
In a separate statement, China’s Ministry of Commerce said “the progress fully reflects the spirit of dialogue and the outcomes of consultations between China and the EU.”
“It shows that both China and the EU have the ability and willingness to properly resolve differences through dialogue and consultation under the framework of WTO rules and maintain the stability of automotive industrial and supply chains in China, the EU and the whole world,” the ministry said.