EU Trade Chief Says China Agrees to Cut Tariffs, Limit Hybrid Car Exports

China has agreed to lower tariffs on some European Union products following trade talks in Beijing on Friday.

EU trade chief Maroš Šefčovič said the agreement also opens the possibility of cutting China’s exports of hybrid and plug-in hybrid vehicles to Europe by more than half.

Šefčovič said the tariff reductions on selected EU products could save the bloc at least 225 million euros, or around 252 million US dollars.