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illuminem summarizes for you the essential news of the day. Read the full piece on Euronews or enjoy below:
🗞️ Driving the news: The EU and China have agreed to negotiate on proposed tariffs on Chinese-made electric vehicles (EVs) following a call between EU Commissioner Valdis Dombrovskis and Chinese Commerce Minister Wang Wentao
🔭 The context: The EU's decision to impose tariffs up to 48% on Chinese EVs stems from an investigation into alleged harmful subsidies
• China denies these claims, arguing its industry's growth is due to competition rather than subsidies
🌍 Why it matters for the planet: The dispute impacts global trade relations and the development of green technologies, highlighting the complexities of balancing fair competition and environmental goals in international markets
⏭️ What's next: Technical talks are scheduled in Brussels this week, aiming to find a resolution
• Tariffs on EVs will be applicable from July 4, with definitive duties set in November, typically lasting five years
💬 One quote: "We are far from the end but, at least, it is a first step that was not possible before," said Germany’s vice-chancellor Robert Habeck
📈 One stat: Germany's car manufacturing industry is heavily reliant on the Chinese market, reflecting the broader economic interdependencies between the EU and China
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