00:00The European Commission and the Chinese government have reached an agreement to resolve a long-running dispute over Beijing's electric vehicles.
00:09Brussels slapped the Chinese-made vehicles with tariffs as a way to counter heavy subsidies placed on European products in China.
00:17Since the EU introduced its duties in October 2024, the two sides have been negotiating a scheme under which Chinese manufacturers would raise the price of their vehicles
00:26to ensure fairer competition with European automakers.
00:31After over a year of negotiations, the Commission published on Monday a guidance document that allows Chinese companies to submit new offers for so-called price undertakings.
00:42The submissions will be subject to thorough internal analysis in Brussels before further steps can be taken.
00:48The Chinese Ministry of Commerce, which previously labeled EU tariffs as disproportionate and unjustified,
00:54hailed the move as an important breakthrough.
00:58In a statement, the Ministry praised the two sides' ability to negotiate and
01:02properly resolve differences through consultation.
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