Mobility
China to cut plug-in hybrid exports by 50 percent; EU trades off with tariff cuts
The European Union and China agreed to halve exports of Chinese plug-in hybrid vehicles to the EU over the next four years. In return, China will cut tariffs on some European products and keep export licensing procedures for rare earths and permanent magnets to the EU running smoothly. The deal follows EU tariffs on Chinese electric vehicles and a subsequent rise in Chinese PHEV exports, and both sides said it complies with WTO rules.
