EU and China agree to negotiate on tariffs as row over electric vehicles rumbles on

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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