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The European Union and China have reached an agreement to sharply reduce China's hybrid car exports to the EU, with exports expected to decrease by more than half. This agreement follows negotiations aimed at rebalancing the trade relationship. It also includes opening the Chinese market to other European products such as car parts and olive oil, as well as accelerating the issuance of export licenses for rare minerals essential for technology. This comes amid increasing European pressure on Beijing to reduce the significant trade imbalance, which amounts to over one billion euros daily, and to impose tariffs on Chinese hybrid cars, especially after they accounted for nearly a quarter of hybrid car sales in Europe during August.
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