The European Union and China have “reached an understanding” that will cut Chinese hybrid car shipments to the bloc by “more than a half”, in a temporary salve to trade tensions that have threatened to boil over into a full-blown trade war.
Speaking after marathon trade talks in Beijing, EU trade chief Maros Sefcovic said the deal would see China slash its hybrid car exports “by several million cars” over a four-year period.
“This is the first time that China has accepted to moderate its exports…
Source: www.scmp.com
