Jan. 12 (UPI) -- The European Union published new pricing guidelines Monday that could allow the relaxation of tough import "anti-subsidy" duties on Chinese electric vehicles of up to 35.3% imposed by the 27-country economic block in October 2024.
The framework deal prescribes how Chinese EV-makers will submit "price undertaking offers" under which they commit to a minimum selling price where, if accepted, the EU will waive the anti-subsidy duties, Brussels said in a news release.
The European Commission said the guidance, the result of 15 months of negotiations with the Chinese Commerce Ministry, covered sales channels, cross-compensation and future investment in the EU -- in addition to the minimum price offer -- and that every submission would receive a fair hearing.
"Each price undertaking offer is subject to the same legal criteria and the European Commission will conduct each assessment in an objective and fair manner, following the principle of non-discrimination and in accordance with World Trade Organization rules," said the commission.
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