The European Union is considering introducing minimum prices for Chinese electric vehicles to replace import tariffs, Bloomberg reported on Monday.
The Chinese Ministry of Commerce expressed satisfaction with the proposed approach in a statement.
According to Bloomberg, the plan could ease trade tensions between Europe and China, despite pressure from the United States for Europe to adopt a tougher stance towards China.
Under the suggested system, high import tariffs on Chinese-made electric cars would be replaced by minimum pricing that accounts for government subsidies provided to Chinese car manufacturers.
This approach is aimed at protecting European automakers while allowing Chinese brands to retain profits from their vehicles sold in Europe, rather than paying heavy import duties.
