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China presses EU to drop EV tariffs

STORY: China is pressing the EU to drop its new tariffs on the country’s electric vehicles.

Duties of up to 38.1% are due to kick in on July 4, while the bloc investigates what it says are excessive subsidies.

China says that’s a mistake, arguing its EV industry has grown thanks to advantages in technology and other factors - not government support.

Now the two sides have agreed to resume talks on the matter, according to reports late Sunday by state-controlled media in China.

Visiting the country over the weekend, Germany’s economy minister had said the doors for discussion were “open”.

Robert Habeck said he believed in free markets - but added they required a level playing field.

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Beijing has signaled that it does not want a trade war - but is ready to retaliate if needs be.

Officials have reportedly begun an anti-dumping probe into Europe pork imports, indicating that they could be a target.

It’s thought dairy goods and some cars could also be hit.

The EU tariffs are due to be finalized in early November once the anti-subsidy investigation wraps up.

They are driven by concerns that a flood of cheap imports from China could harm European automakers.

The U.S. has already quadrupled its tariffs on Chinese EVs over similar concerns.

There was no comment on the latest reports from China’s commerce ministry.