China agrees to cut exports of hybrid cars to Europe. Is this a rare trade win for the EU?

BRUSSELS - The European Union and China appear to have averted a major trade war after Beijing officials agreed to limit Chinese exports of hybrid cars to Europe. Maros Sefcovic, the EU’s trade commissioner, concluded two days of intense talks in the Chinese capital on Oct 9 with a commitment that Chinese exports of hybrid and plug-in hybrid cars to the European trading bloc will be cut by more than half over four years, measured against this year’s volumes.