EU-China Deal Could Halve Chinese Hybrid Car Exports

The European Union and China have reached an understanding on hybrid-vehicle trade that could reduce projected Chinese exports to Europe by more than half over four years, though the sides have yet to disclose how the arrangement will work.

The agreement was reached during trade talks in Beijing on Thursday and Friday. China’s Ministry of Commerce said the two sides had reached an understanding on hybrid-vehicle trade in a manner consistent with World Trade Organization rules. EU Trade Commissioner Maroš Šefčovič said the negotiated solution was fully WTO-compliant and that its details would be shared after he presented them to European leaders and member states.