Talks critical to resolving EU tariff spat

Biz leaders issue call to avoid cutthroat competition, embrace collaboration

Despite the challenging and highly complex nature of China-European Union negotiations on the latter's anti-subsidy investigation into Chinese electric vehicles, such talks remain the most effective way to prevent the escalation of bilateral economic and trade tensions, said market watchers and business leaders.

To navigate the intensifying economic and trade competition, they said China and the EU should closely bind their industrial chains, enhance market integration and achieve mutual benefits.

As the Ministry of Commerce said in late June that China and the EU have expedited consultations on this issue, Lyu Yue, a professor at the Academy of China Open Economy Studies, part of the University of International Business and Economics in Beijing, said that through negotiations with the EU and discussions with relevant member states, China aims to reduce current tariff levels as much as possible.