China, EU agree on dialogue, cars and rare earths after trade talks
The automotive sector was a key focus ahead of the talks, as cheaper Chinese imports put pressure on European manufacturers, prompting Brussels to seek tighter controls.
EU trade chief Maros Sefcovic and Chinese Commerce Minister Wang Wentao signed an agreement on hybrid vehicles during their trade talks, signaling a commitment to adhere to procedures governing company price undertakings. The partnership focused on the automotive sector, as cheaper Chinese products strained European industry. Beijing also pledged to continue supplying rare earth minerals and magnets to the EU, easing tensions.
Both sides acknowledged differences but emphasized maintaining trade relations, with a March meeting scheduled. The EU's trade deficit with China, estimated at 1 billion euros daily, has been unsustainable, leading to accusations of unfair trade practices. European companies expressed support for addressing the imbalance but sought proportionate and negotiated solutions to preserve the overall relationship.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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