CAAM: Consensus in China-EU Hybrid and Electric Vehicle Consultations Helps Safeguard Common Interests of Both Industries

Yicai Global APP has learned that on October 14, the China Association of Automobile Manufacturers issued a statement on the consensus reached in China-EU consultations on hybrid and electric vehicles, noting that under the framework of World Trade Organization (WTO) multilateral rules, China and the EU explicitly upheld the three principles of being fact-based, non-discriminatory, and compliant, and reached a consensus on trade issues concerning hybrid and electric vehicles. This consensus helps stabilize industry expectations on both sides, maintain the stable and smooth operation of the automotive industrial and supply chains, and create a more predictable environment for automakers to carry out trade and investment cooperation; it also helps safeguard the common interests of industries and consumers on both sides and avoid escalation of trade frictions. By relying on the WTO platform and adhering to dialogue and consultation in handling trade frictions, China and the EU have set a model for the international community in properly managing differences.