China Pledges to Cut Hybrid Car Exports to EU by Half in Trade Agreement

Brussels has announced a significant breakthrough in trade negotiations with Beijing, securing an agreement that could see Chinese hybrid car exports to the European Union drop by more than 50% over the next four years. The deal comes amid growing concerns that the surge in Chinese vehicle sales threatens the viability of key segments within the European automotive sector.

EU Trade Commissioner Maroš Šefčovič described the accord as a pioneering effort, resulting from strenuous talks that began in June. The negotiations were driven by the need to address a substantial trade imbalance, with the deficit between the two economic powers reaching €1.18 billion (£1 billion) daily.

Officials on both sides recognize that unchecked inflows of these vehicles could have severe consequences for European jobs. By curbing the volume of imports, the agreement aims to level the playing field and preserve the industrial base of one of the bloc’s most vital sectors.