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10h ago

EU and China Open One-Day Summit Under Trade and Geopolitical Strain

EU leaders are pressing China on rare earth exports at a summit overshadowed by looming US tariffs

Miners are seen at the Bayan Obo mine containing rare earth minerals, in China's Inner Mongolia in 2011.
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This photo shows an air freight parcel marked 'Made in China' in a warehouse at Roissy-Charles de Gaulle airport, outside Paris, on December 20, 2024.

Overview

  • European Commission President Ursula von der Leyen and European Council President Antonio Costa are meeting President Xi Jinping and Premier Li Qiang for a scaled-down one-day summit in Beijing.
  • The summit was shortened from two days to one at China’s request citing a scheduling conflict and canceled a planned business roundtable in Hefei.
  • The China Chamber of Commerce to the EU urged both sides to seize the meeting for a substantive trade deal, specifically calling for the removal of EU tariffs on Chinese electric vehicles.
  • EU officials are demanding China ease critical rare earth export curbs that disrupt supply chains and pressuring Beijing to leverage its ties with Russia for a resolution to the Ukraine war.
  • Both sides face intensified external pressure as China warns of retaliation against EU sanctions and Europe braces for President Trump’s 30% tariffs on its exports starting August 1.