China Aims To Avoid a Trade War

According to the BBC, the European Commission is on the verge of a trade war with China over the import of solar panels worth 21bn euros (£18bn) a year.

PV-Tech have confirmed that the EU Commission is planning to implement average provisional AD duties of 47% on Chinese photovoltaic imports from June 6. Overall, tariffs will range from 37 to 68%.

The Ministry of Commerce of the People’s Republic of China (MOFCOM) is calling for dialogue and consultations with the European Union. At a press conference on May 9, MOFCOM spokesperson Yao Jian said that the EU and China are “important trade partners” and that it is essential to “properly handle” the EU anti-dumping and anti-subsidy investigations.

“China and EU have carried out a wide range of cooperation in such areas as improving investment environment, opening up of markets, urbanization, new energy utilization and electric vehicle technology,” Yao said. “As for the current trade dispute, the two parties should solve them through further consultations, so as to promote common development.”

RCL Agency will continue to monitor the development of the situation . Stay informed with updates from RCL!