Beijing, EU aim to resolve tariffs dispute

Price agreement: The Ebro S700 SUV at a launch of EV Motors in Barcelona, Spain. The deal, if finalised, could satisfy the EU’s demands for shielding its local automotive sector and do away with the steep tariffs on Chinese EV imports. — Bloomberg

BEIJING: The prospect of China and the European Union (EU) nearing a solution on the continental block’s imposition of extra tariffs on Chinese-made electric vehicles (EVs) will provide a much-needed buffer to avoid the escalation of trade tensions between the two economic powerhouses, analysts say.

China and the EU meeting each other halfway on the tariff issue would not only benefit the EV industry on both sides, but also contribute to a broader bilateral economic relationship, they added.