EU weighs tougher China trade steps after hybrid car deal
Brussels plans new measures against Chinese imbalances despite a recent accord on hybrid and electric vehicles, while Beijing says it will keep talking.
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What happened
The European Union and China reached a consensus on trade in hybrid and electric vehicles, as EU governments face pressure over fast-rising Chinese shipments of cars and factory goods that threaten local industry. China's Vice Premier He Lifeng told Emmanuel Bonne, a French presidential adviser, that Beijing is willing to maintain dialogue with the EU, and Brussels is now preparing new tools to tackle trade imbalances.
Why it matters
The Chinese car industry association said the accord has helped steady expectations and keep supply chains moving. The French car suppliers association (FIEV) warned that rising imports of Chinese car parts and components are not covered by the deal.
Timeline
- Oct 14, 12:13 AM ET: The China Association of Automobile Manufacturers said the consensus on hybrid and electric vehicles has helped steady industry expectations.
- Oct 14, 4:07 AM ET: FIEV chairman said the deal is a positive step but does not address rising imports of Chinese car parts and components.
- Oct 14, 10:45 AM ET: EU leaders planned to call urgently for new trade measures despite the surprise deal with Beijing on hybrid car imports.
- Oct 14, 1:21 PM ET: Vice Premier He Lifeng told Emmanuel Bonne, a French presidential adviser, that China is willing to keep dialogue with the EU.
- EU weighs new trade tools as China presses for restraint
- EU leaders back quick safeguards against Chinese chemical and machinery imports
- EU and China strike hybrid car deal as Brussels readies tougher trade steps
- Volkswagen chief presses EU for rules to counter cheaper Chinese brands
- China and EU reach 16 accords, easing rare earth export licences
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