EU, China Agree to Halve Chinese Hybrid Car Exports to Europe, Ease Rare Earth Export Licenses
Summary
- The EU and China have reportedly agreed to cut the volume of Chinese hybrid vehicles exported to the EU by half.
- The two sides said they agreed to improve European companies’ access to the Chinese market and ease procedures for granting export licenses for Chinese rare earths.
- The agreement included auto trade, market access and rare earth export licenses, though specific terms were not disclosed.
Forecast Trend Report by Period
The European Union and China have agreed to cut Chinese hybrid vehicle exports to Europe by half. The two sides also agreed to improve European companies’ access to the Chinese market and ease licensing procedures for Chinese rare earth exports.
The EU and China were reported on Oct. 9 to have reached a trade agreement covering auto trade, market access and rare earth export licenses.
Under the agreement, China will reduce hybrid vehicle exports to the EU by 50% from current levels.
The two sides also agreed to improve conditions for European companies seeking to enter the Chinese market and to relax export licensing procedures for rare earths produced in China.
Specific terms, including the implementation timetable and the scope of products covered, were not disclosed.
JH Kim
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