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A significant breakthrough has been made in the long-standing trade dispute between China and the European Union, thanks to a "price commitment" agreement. On August 3, the European Commission officially announced its acceptance of this deal, which allows certain Chinese solar panel companies to avoid high anti-dumping duties. The Chinese Ministry of Commerce welcomed the decision, marking a temporary resolution to what is considered the largest trade conflict between the two sides in history.
Many analysts credit Premier Li Keqiang for playing a pivotal role in securing this outcome. “If I didn’t call the prime minister, I’m afraid it’s still hanging,†said one official involved in the negotiations. Bai Mingnan, a researcher at the Ministry of Commerce’s International Trade and Economic Cooperation Research Institute, noted that such high-level involvement in specific trade issues was extremely rare before.
The Prime Minister’s engagement began earlier this year during his visit to Switzerland, where he emphasized the principle of “one insistence and two resolutenessâ€â€”persisting in negotiations, opposing trade protectionism, and safeguarding national interests. These principles were later reinforced during his trip to Germany, where he criticized trade protectionist practices as harmful and advocated for dialogue over confrontation.
During a meeting with EU Commission President José Manuel Barroso on June 3, Li warned that mishandling the case could lead to a trade war, which would harm both sides. He urged the EU to resolve disputes through negotiation rather than sanctions. “If the EU insists on taking punitive measures, China will have no choice but to respond accordingly.â€
Experts like Mao Chunchun from Tsinghua University’s Economic Research Center believe that the Prime Minister’s direct intervention had a decisive impact. “Without the prime minister’s call, the situation might have stalled,†he said.
So why did the photovoltaic industry require such high-level attention? According to public data, the trade friction between China and the EU over solar products was among the most severe in recent years. In 2011 alone, China exported over $35.8 billion in photovoltaic goods, with the EU accounting for 60% of that volume. The dispute affected thousands of Chinese companies and millions of jobs on both sides.
Bai Mingnan explained that while trade conflicts are common as China becomes a major trading power, resolving them often requires more than just technical negotiations. “When you’re facing double-countervailing actions, your ability to respond is limited. But by elevating the issue to the level of bilateral relations, both sides must consider the bigger picture and find a balanced solution.â€
He also pointed out that similar high-level engagements are more common in Sino-U.S. trade talks, but less so in China-EU relations—especially for specific sectors like photovoltaics.
Despite the recent agreement, the EU has not completely dropped its investigations. While the “price commitment†avoids immediate tariffs, the Commission has confirmed that anti-subsidy probes into Chinese solar products will continue, with final results expected by the end of the year.
This development highlights the complex interplay between economic restructuring, global competition, and diplomatic engagement in shaping international trade relations.