Overview

• The EU imposed sanctions on two Chinese banks over their ties to Russia, a move Beijing denounced as “shocking” and resolutely opposed.
• China barred public procurement of European medical devices in retaliation for Brussels’ new rules on Chinese medical equipment.
• Beijing tightened export controls on gallium and other strategic materials, subjecting European companies to rigorous licensing inquiries.
• The EU’s tariffs on Chinese electric vehicles remain in effect while China has launched trade probes and duties on European pork, cognac and other imports.
• The summit schedule was shortened from two days to one and will end without a joint communiqué, highlighting the depth of current diplomatic rifts.