Yahoo! Finance
Plans Measures to Cut Imports of Chinese Hybrid Cars by Half
xCruzo Brief
The European Union plans to use safeguard measures to cut imports of Chinese hybrid cars by half, according to people familiar with talks. EU chief trade negotiator Maros Sefcovic told officials the mechanism—likely safeguard tools such as tariff-rate quotas—still needs discussion with EU leaders next week, but could be implemented by December. A safeguard would apply a levy on imports above a set volume to curb excess flows and comply with World Trade Organization rules, which both sides say are required. Sefcovic said the action would reduce hybrid inflows to about 400,000 per year from roughly 800,000 expected in 2026. The plan is to be reviewed as EU leaders meet in Brussels Thursday and Friday after Sefcovic briefs ambassadors Sunday.
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