EU sees 'slim' chance of success in EV tariff negotiations with China
European Union sees very limited progress in negotiations with China aimed at finding an alternative to tariffs on electric vehicles and the bloc currently sees little prospect of a quick deal, according to people familiar with the matter.
China and the EU will continue technical talks this week after discussions in Beijing where both sides touted some progress.
However, the chances of a deal remain slim for now, said the people, who spoke on condition of anonymity. China hasn't yet moved toward the EU's strict requirements on ensuring that any arrangement is enforceable and matches the effect of the anti-subsidy tariffs the bloc adopted last month, they said.
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The two sides have been exploring an agreement on so-called price undertakings — a complex mechanism to control prices and volumes of exports, used to avoid tariffs.
Recent talks have mostly focused on establishing a communication mechanism between Brussels and Beijing as well as avoiding the risk of so-called cross-compensation, whereby any minimum import prices on EVs are offset by sales of other goods such as hybrid cars and accessories, the people said.
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