China EV price deal needs be as effective as tariffs, says EU official

Published On : 11/04/2024

BRUSSELS (Reuters) – Any agreement reached with Chinese producers on minimum prices for electric vehicles would need to be as effective and enforceable as the EU tariffs that were imposed last week, the likely future European Union trade chief said on Monday.

The EU increased tariffs on Chinese-built EVs to as much as 45.3% last Wednesday, but negotiations to avert them through price undertakings – minimum price commitments for imported cars – continue.

Maros Sefcovic, the European commissioner designate for trade, told a parliamentary committee that EU trade officials were in China for talks.

“What is very important for us is that even if you go (for price undertakings), they have to be equally effective and enforceable as the import duties we introduced. So that’s absolutely key for us,” he said.

Sefcovic is among 26 commissioners nominated by the EU executive’s chief Ursula von der Leyen and undergoing hearings at the European Parliament this week and next. The next Commission needs parliamentary approval before it can start work.

Sefcovic, from Slovakia, has been a commissioner with various portfolios since 2009.

(Reporting by Philip Blenkinsop; Editing by Emelia Sithole-Matarise)

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