HONG KONG: China said on Monday it has reached a deal with the European Union on exports of Chinese-made electric vehicles to the bloc. The commerce ministry in Beijing said the EU will be issuing guidelines on minimum pricing for Chinese auto exporters. It did not directly mention if the deal involved an end to the tariffs of up to 35.3 per cent that the EU imposed on imports of Chinese EVs in 2024 following an investigation. The expansion of Chinese EV makers overseas has alarmed automakers in Europe and the US. The EU imposed the tariffs to counter an influx of affordably priced Chinese EV models into its markets, saying Chinese automakers had benefited from unfair government subsidies. The US enacted a 100 per cent tariff on China-made electric cars in 2024.
