The announcement of an agreement came from the Chinese government after talks between Sefcovic and Commerce Minister Wang Wentao in Beijing.
The agreement, outlined in a joint press release, is said to be “in accordance with World Trade Organization (WTO) rules.”
However, no further details about the cars have yet been made public.
Sefcovic also hopes the EU will gain greater access to the Chinese market for a range of products.
This applies to everything from car parts to olive oil, with an export value of almost four billion euros, he said at a press conference in Beijing.
Trade deficit
EU representatives have recently emphasized, with increasing urgency, the importance of addressing Europe's rising trade deficit with China.
Chinese state-controlled or state-subsidized companies have often been accused of distorting the market to the detriment of the EU.
As recently as the beginning of this week, EU leaders Germany and France jointly called for a tougher stance on trade.
I came here with a clear purpose: to start balancing the trade relationship between China and the EU. The trade deficit is a mountain of challenges for the EU that is felt in all member states. It is unsustainable, Sefcovic said.
“Important first step”
The joint press release contains 16 points, including a mutual commitment to consider reducing tariffs and quotas.
China is said to be willing to facilitate exports of critical rare earth metals and magnets to the EU, while the EU will “continue to work” to facilitate “particularly prioritized licenses.”
Sefcovic noted at the same time that much remains to be discussed.
This is an important first step, but only a first step towards rebalancing, Sefcovic said.
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