In response to US tariffs, China and the European Union have discussed ways to improve their trade and economic cooperation, according to the Chinese Commerce Ministry.
China's Commerce Minister Wang Wentao spoke with European Trade and Economic Security Commissioner Maros Sefcovic via video conference on Tuesday about resuming trade relief talks and starting negotiations on electric vehicle price promises right once, the Chinese government said.
The discussion took place just before new tariffs imposed on China by US President Donald Trump went into force.
In an unexpected turnaround, Trump announced on Wednesday that he would temporarily reduce the high duties he had recently placed on dozens of nations. Nonetheless, he increased pressure on China by threatening to increase tariffs on the second-largest economy in the world to 125 percent.
Wang informed Sefcovic that China is prepared to expand its industrial, trade, and investment cooperation with the EU.
In order to "inject more stability and certainty into the world economy and global trade," Wang urged China and the EU to work together to protect the rules-based multilateral trading system and uphold trade liberalization and facilitation, according to the ministry.
The EU and China also talked about trade transfer difficulties and improving the business climate for companies.
According to the ministry, they would work together to advance WTO reform and keep enhancing communication within the framework of the World Trade Organization.
In addition to the bloc's usual 10 percent car import tariffs, the EU had levied additional tariffs of up to 35.3 percent on Chinese-made electric vehicles at the end of October following an anti-subsidy inquiry.
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The trade ministry stated last week that the two parties have agreed to reopen negotiations on minimum price guarantees on Chinese EVs but did not indicate when that would happen.