EU says it agrees with China to halve hybrid vehicle exports to EU

The ‌European Union ​and China have agreed to halve Chinese exports ‌of hybrid and plug-in hybrid vehicles to the EU, improve EU access to ‌China's market and ease Chinese licencing of ‌rare earth exports, European Trade Commissioner Maros Sefcovic said on Friday.

"This is far from ⁠the ​end. ⁠It's a crucial first step, but only a ⁠first step," Sefcovic told reporters in Beijing ​where he traveled to hold talks ⁠with his Chinese counterpart. European Trade Commissioner Maros ⁠Sefcovic ​has said he was seeking "tangible results" from his visit to China, ⁠amid the bloc's growing concerns over the gap, ⁠which ⁠amounted to over €1 billion ($1.12 billion) a day.