China, European Union
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U.S. & EU reach new trade deal
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Two of the world’s biggest polluters want to combat climate change — but neither wants to give an inch while doing it.
The European Union and China will commit to leading the world in the fight against climate change in a symbolic show of unity as the US steps back under President Donald Trump.
The Stockholm meeting — following similar talks in Geneva and London in recent months — is set to extend a 90-day pause on those tariffs. During the pause, U.S. tariffs were lowered to 30% on Chinese goods, and China set a 10% tariff on U.S. products.
Brussels has accused Chinese ecommerce group Temu of breaching the bloc’s landmark digital rules by failing to do enough to prevent the sale of illegal products on its platform. In preliminary findings published on Monday, the European Commission said its probe had revealed “a high risk” of EU consumers encountering illegal products on Temu’s site.
Half a century after the establishment of relations between China and the EU, and against a backdrop of deteriorating transatlantic relations, the European Union and China held their 25th summit in Beijing.
China and the European Union (EU) both have an interest in open markets, world-based multilateral trade system. Amid the growing global uncertainties including the US tariffs, we have to warn against arbitrary measures,
Investors will not be able to look away over the coming week as every single day could produce significant market-moving news.