China Defends Yuan Policy as Europe Steps up Pressure Over Trade Surplus
The EU's Commissioner for Trade said China's one-year suspension of its restrictions on rare earth materials would apply to the European Union as well as the United States. The bloc's industry chief, Stephane Sejourne, said the EU must ramp up efforts to break its dependence on China for rare earths, describing the export curbs as a "racket". The text also notes that the EU's trade deficit with China is growing, prompting protective measures on electric vehicles and e-commerce platforms, and that Belarus said it will sign a free trade deal with China for services and investment.
Why it matters: The measures and counter-measures described fall under the briefing's trade and supply-chain theme, in which export controls on rare earths and a widening bilateral deficit drive European protective action.