July 29 - The European Union and China agree to end a solar panel spat that threatened hundreds of billions of euros worth of trade, and will also see accusations over European wine dumping dropped as well. Joel Flynn reports.
It was a row that threatened 430 billion euros of trade. And it's been averted. EU trade chief Karel De Gucht says an agreement has been reached over Chinese-made solar panels. SOUNDBITE: EU Trade Commissioner, Karel De Gucht, saying (English): "The Chinese suppliers have agreed to voluntary price undertaking where they commit to stop dumping and keep prices above a certain floor. In return, those companies who participate in this engagement do not have to pay the anti-dumping duties." European solar panel makers accused China of benefiting from huge state subsidies. They said 21 billion euros of below-cost solar panels were dumped in Europe last year, putting some firms out of business. But the EU action lead to retaliation from China over European wine sales, which could have hit France, Spain and Italy. Both sides now expect that issue to be dropped too.