China is optimistic about reaching a "mutually acceptable solution" with the European Union regarding the preliminary tariffs on Chinese electric vehicles (EVs) scheduled to take effect on July 4, according to a statement from its commerce ministry on Thursday. This development signifies a collaborative effort to strengthen trade relations between the two major economies.
Beijing is hopeful that the EU will reconsider its plans to impose these tariffs. Brussels has indicated a willingness to engage in technical discussions this week, seeking a roadmap from China to address the concerns regarding the subsidization of its EV industry. This dialogue highlights a commitment to resolving trade issues amicably and fostering a positive trading environment.
China attributes the rapid development of its EV industry to its technological advancements, market strengths, and efficient supply chains. By engaging in these discussions, both sides demonstrate a shared interest in promoting fair trade practices and enhancing economic cooperation.
He Yadong, a commerce ministry spokesperson, stated during a regular news conference, "Currently, the working teams of both sides are in close communication and are intensifying their consultations. It is hoped that the EU and China will collaborate towards a mutually acceptable solution to prevent the escalation of trade frictions that could negatively impact China-EU economic and trade relations."
Additionally, the commerce ministry mentioned it is reviewing materials submitted on behalf of China's electronic products industry in response to an EU trade barriers investigation, further underscoring the commitment to constructive dialogue and positive trade outcomes.
This ongoing collaboration between China and the EU is a positive step towards enhancing global trade relations and ensuring a fair, competitive market for electric vehicles.
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