BEIJING -- China and the European Union could resolve their dispute over tariffs on China-made electric vehicles with Chinese EV makers pledging to sell EVs in the EU above minimum prices.
"Technical teams on both sides are now negotiating on a flexible price commitment plan" and "making every effort to reach a consensus on the solution framework before the final ruling" by the EU, a spokesperson for China’s Ministry of Commerce said at a news briefing in Beijing on Sept. 26.
The European Commission on June 12 proposed tariffs of up to 38.1 percent on EVs imported from China.
The Commission imposed the tariffs after its investigation concluded that the battery electric vehicles value chain in China benefits from unfair subsidies.
Minimum pricing on Chinese EVs could help to allay the European Commission's fears about subsidized EVs from China flooding European markets.
The flexible price negotiations follow talks on Sept. 19 between Wang Wentao, China's minister of commerce, and Valdis Dombrovskis, the European Commission’s commissioner for trade, in Brussels, the spokesperson for China’s Ministry of Commerce said.
Before the meeting, the European Commission had rejected offers from electric vehicle makers in China for minimum import prices to offset subsidies.
The EU's tariffs were adjusted by the commission last month. Following the adjustment, tariffs on EV imports from Chinese companies BYD Geely Automobile Holdings and SAIC Motor Corp. were marginally lowered.
The European Commission is due to to finalize the tariffs by October 30.
