China, EU strike hybrid-car deal as bloc weighs import curbs
What's next: EU leaders meet Thursday to decide whether to deploy tougher trade tools against a wider surge of Chinese goods.
China and the European Union reached a 16-point trade consensus Friday that includes an understanding to curb Chinese hybrid-vehicle exports to the bloc, giving both sides more time as Brussels weighs broader defenses against rising imports. The EU has discussed safeguard measures that could limit volumes through tariff-rate quotas, while Chinese hybrids have gained ground after avoiding the bloc’s 2024 tariffs on electric vehicles. In August, Chinese brands made up about a quarter of European hybrid sales. Germany and France have pushed for stronger instruments to protect European industry as the EU trade deficit with China tops 1 billion euros, or about $1.1 billion, a day. Further talks are planned in January and March.