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Tuesday, 4 June 2013

European Union Backs Down on China Tariffs

The European Union’s trade chief on Tuesday sought to ease trade tensions with China by lowering tariffs on the $27 billion worth of solar panels that China sells to Europe each year.


Germany had warned against imposing preliminary duties in the case, which risked inflaming trade relations with China.


Karel De Gucht, the European trade commissioner, had recommended average duties as high as 47.6 percent to last for up to six months. Those duties will be set at the far lower level of 11 percent until August, an official said ahead of a formal announcement later on Tuesday.


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James Kanter and Keith Bradsher, New York Times via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/Ua1IQ-yDL4c/

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