Chinese Commerce Minister Wang Wentao and European Trade Commissioner Maroš Šefčović discussed the response to the US reciprocal tariffs and agreed to start consultations on bilateral trade, the Chinese Ministry of Commerce said.
The parties agreed to start consultations as soon as possible and hold detailed talks on market access issues to create a more favorable business environment for companies.
“They decided to immediately start negotiations on electric vehicle prices and discussions on investment cooperation between the Chinese and EU automobile industries,” the statement said.
The Chinese Ministry stressed that Wang and Šefčović supported the continuation of the dialogue on China-EU trade defense, trade diversion and the proper resolution of trade disputes.
The talks, it added, were held two days ago via video conference.
China’s State Council announced last week that China would impose additional tariffs of 34 percent on all goods imported from the US in retaliation for President Donald Trump’s tariffs. Trump further increased tariffs on Chinese imports by 50 percent, starting April 9.
