Massive crackdown on Chinese car exports

• The European Union will cap the import of Chinese hybrid vehicles at 350,000 cars per year, with the safeguard measure taking effect as soon as 1 December.
• The measures will apply for four years, during which time both countries will pledge to abide by World Trade Organisation rules. EU leaders will meet in Brussels Thursday to discuss the hybrid issue as well as ways to stop China from flooding the continent with subsidised, low-cost goods that erode local industry.
• China will remove tariffs on some auto parts and halve duties for shoes, ice cream and olive oil, the document says.