Business

EU Ready for Trade Talks with China on Tariffs, Says German Minister

Jun 22, 2024 1 min read

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Germany's Economy Minister, Robert Habeck, has announced that the European Union is open to discussions regarding proposed tariffs on Chinese exports. This follows Brussels' suggestion to impose substantial duties on imports of Chinese-made electric vehicles (EVs) to counter what the EU views as excessive subsidies. Habeck emphasized the importance of open markets but insisted that they require a level playing field. The EU's provisional duties are scheduled to be implemented by July 4, with an investigation continuing until November 2, when definitive duties could be imposed.

Habeck also mentioned the possibility for dialogue between the EU and China on these tariff issues before the final decisions are made in November. He noted that China's support for Russia in its conflict with Ukraine is adversely affecting their economic relationship. Meanwhile, China's Commerce Minister Wang Wentao and EU Trade Commissioner Valdis Dombrovskis have agreed to hold consultations on the matter via video conference.

#european-union #markets #finance #auto #russia-ukraine-war

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