China Negotiates Until Last Minute on EU's Electric Vehicle Probe

China's commerce minister, Wang Wentao, stated that Beijing will persist in negotiations on the EU's electric vehicle probe until the last moment. The investigation has shaken Chinese investors' confidence in Europe. Wang spoke at a Brussels event and is set to meet the EU's trade commissioner to address trade tensions.

China's commerce minister, Wang Wentao, announced on Wednesday that Beijing would persist in negotiating up to the final moment regarding the European Union's probe into electric vehicles. The investigation has significantly dented the confidence of Chinese companies investing in Europe.

Speaking at a China-Europe Electric Vehicles event in Brussels, where around 30 executives from the Chinese and European electric vehicle industries gathered, Wang discussed the EU's anti-subsidy case against China's electric vehicles. He is scheduled to meet the European Commission's trade commissioner, Valdis Dombrovskis, on Thursday to talk about escalating trade tensions.

The European Commission is poised to impose tariffs of up to 35.3% on electric vehicles manufactured in China, in addition to the EU's standard 10% car import duty. The EU's 27 members will vote on the proposed duties on September 25. These tariffs will be enacted by the end of October unless a qualified majority opposes them.

(With inputs from agencies.)