"China-EU technical agreement on Chinese EV tariffs"

China, the European Union and the EU have reached a technical agreement on tariffs on Chinese electric vehicles, China's Central Broadcasting Bureau's social media account Yu Yuan Tantian reported on the 16th local time.

"China and the EU negotiated five times on the 2nd and 7th," Yu Yuan Tantian said, citing an unnamed source.

The details of the agreement are not known.

Earlier on the 29th of last month, the European Commission, which is equivalent to the EU administration, said it had concluded to impose a five-year definitive countervailing duty on imports of Chinese electric vehicles through an anti-subsidy investigation.

As a result, an additional tariff of 7.8 to 35.3 percentage points was imposed on the existing general tariff rate of 10%, resulting in a final tariff rate of 17.8 to 45.3%.

As a result, the two sides have been engaged in "price negotiations" to control the price and export volume of Chinese electric vehicles exported to the EU to avoid tariffs.