China agreed to cut tariffs on EU products worth almost EUR 4 billion.

Omissions

• The €4 billion is the current export value of the EU goods covered by the tariff reductions, not the value of tariffs saved or any additional trade generated — the speaker's phrasing could be read as a larger economic gain than it is.
• The arrangement is described by Reuters as 'understandings' reached in an interim deal that keeps talks alive in the EV dispute; it is not yet a fully ratified, binding agreement, so implementation remains contingent on further negotiation.
• Sources describing the deal (Reuters 2026-10-09, AP/Fortune 2026-10-10) predate the 21 October 2026 plenary, so the MEP could have known them; no post-session data was used.

Sources

• PrimaryEuropean Commission — Speech by President von der Leyen, European Parliament plenary (SPEECH/26/2222)"China has agreed to cut tariffs on EU products worth almost €4 billion. We secured greater predictability on export controls for rare earths ..."
• SecondaryReuters — 'China, EU strike deal to halve Chinese hybrid exports'"The two sides also reached understandings on reducing Chinese import duties on some €4 billion of EU exports, including car parts, olive oil and ..."
• SecondaryFortune / AP — 'EU says trade deal could cut up to 50% of Chinese EV and plug-in hybrid imports'"... tariffs, including car parts, olive oil and footwear, totaling almost 4 billion euros (about $4.5 billion) in current export value."
• SecondaryEU Perspectives — 'China agrees to half hybrid exports as EU secures tariff [deal]'"The package also includes lower Chinese import tariffs on seven product categories, covering European exports worth almost €4 billion. Šefčovič named car ..."