China and EU boost trade talks
China and the European Union reached an agreement to strengthen trade dialogue aimed at avoiding the escalation of tensions, particularly concerning export controls and the stability of global supply chains. Beijing pledged to continue facilitating the issuance of export licenses for rare metals and permanent magnets, which are vital for European strategic industries that heavily rely on Chinese supplies affected by restrictions set for 2025. An understanding was also reached to discuss hybrid car trade without revealing specific details. Experts, however, suggested that trade escalation could harm both sides due to their mutual dependence on essential materials and metals. It was agreed to hold a third round of dialogue in March 2027 to continue the negotiations.
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