EU reaches 'amicable solution' with China on solar panel dispute
BRUSSELS (AFP) - The European Commission said on Saturday it has reached an "amicable solution" with Beijing over imports of Chinese solar panels, a dispute that had threatened to turn into a full-blown trade war.
"We found an amicable solution in the EU-China solar panels case that will lead to a new market equilibrium at sustainable prices," EU Trade Commissioner Karel De Gucht said in a statement.
Mr De Gucht said that "after weeks of intensive talks", the two sides had agreed a minimum price for imported Chinese solar panels, which EU manufacturers had claimed were being massively dumped in the EU market.
"We are confident that this price undertaking will stabilise the European solar panel market and will remove the injury that the dumping practices have caused to the European industry," he said.