The European Union has reached a preliminary agreement with China to cap the annual import of hybrid and plug-in hybrid vehicles at 350,000 units. European Commission sources confirmed the figure, which represents a significant reduction from current import levels.
- The European Commission estimates that 800,000 hybrid vehicles will be imported from China to the European Union this year.
- The new quota of 350,000 units marks a substantial decrease from the current volume of trade.
- Despite this agreement, Brussels continues to develop trade defense instruments to address market imbalances.
- European officials are scheduled to discuss these trade measures further at this week’s European Council meeting.
The cap remains part of broader trade negotiations between the two powers. #EU #China #Trade #Automotive