China, EU Pledge to Contain Trade Disputes After Beijing Talks

China and the European Union reached an understanding on the trade of hybrid vehicles and agreed to pursue lower tariffs on some goods, as the two sides seek to contain fallout from disputes over electric vehicles (EVs), export controls and market access.

The commitments came after Commerce Minister Wang Wentao and European Commissioner for Trade and Economic Security Maroš Šefčovič met for the second time under the China-EU Trade and Investment Consultation Mechanism on Thursday and Friday in Beijing, according to a joint statement.