logo
EU's Kallas warns that China needs to rebalance trade relationship with EU

EU's Kallas warns that China needs to rebalance trade relationship with EU

Yahoo4 days ago
BRUSSELS (Reuters) -The European Union's top diplomat Kaja Kallas told Chinese foreign minister Wang Yi on Wednesday that Beijing needed to rebalance its trade relationship with the EU and warned Chinese companies' support for Russia's war in Ukraine posed a serious threat to European security.
"She also called on China to put an end to its distortive practices, including its restrictions on rare earths exports, which pose significant risks to European companies and endanger the reliability of global supply chains," the EU readout said.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

China retaliates against EU with a ban on European medical devices
China retaliates against EU with a ban on European medical devices

Associated Press

time24 minutes ago

  • Associated Press

China retaliates against EU with a ban on European medical devices

BANGKOK (AP) — China said Sunday that European medical device companies will be barred from selling to the Chinese government as a countermeasure for the European Union's restrictions on the sale of similar products from China. European companies will be excluded if the budget for procurement is above 45 million yuan ($6.28 million), according to a notice from the Finance Ministry on Sunday with the restrictions in place the same day. The move will not apply to European companies that have invested in China and that manufacture goods in the country. China on Friday imposed anti-dumping duties on European brandy, most notably cognac produced in France. While the duties on brandy include several exceptions for major brandy producers, China and the EU have multiple trade disputes across a range of industries. China protested after many European countries levied duties on EVs made in China. Since then, China has also launched investigations into European pork and dairy products. In June, the EU announced that Chinese companies were to be excluded from any government purchases of more than 5 million euros ($5.89 million). The measure seeks to incentivise China to cease its discrimination against EU firms, the EU said, accusing China of erecting 'significant and recurring legal and administrative barriers to its procurement market.' In response, China has said it had 'no choice but to implement countermeasures.' 'China has repeatedly expressed through bilateral dialogues that it is willing to properly handle differences with the EU through dialogue and consultation and bilateral government procurement arrangements,' said a statement from a spokesman with the Ministry of Commerce. 'Unfortunately, the EU has ignored China's goodwill and sincerity and still insisted on taking restrictive measures and building new protectionist barriers.'

Citizens JMP Reiterates a Buy Rating on Dynavax Technologies (DVAX) With a Price Target of $31
Citizens JMP Reiterates a Buy Rating on Dynavax Technologies (DVAX) With a Price Target of $31

Yahoo

timean hour ago

  • Yahoo

Citizens JMP Reiterates a Buy Rating on Dynavax Technologies (DVAX) With a Price Target of $31

Dynavax Technologies Corporation (NASDAQ:DVAX) is one of the 13 Best Pharma Stocks to Buy According to Wall Street Analysts. On June 23, Citizens JMP analyst Roy Buchanan reiterated a Buy rating on Dynavax Technologies Corporation (NASDAQ:DVAX) and set a price target of $31.00. A biopharmaceutical company executive signing a collaboration agreement with a partner. The company reported record net product revenue for HEPLISAV-B in fiscal Q1 2025, reaching $65 million and showing a 36% year-over-year growth. HEPLISAV-B is the first and only adult vaccine for hepatitis B approved in the US, the UK, and the EU. Its total estimated market share in the US rose to around 43%, compared to around 41% in fiscal Q1 2024. Dynavax Technologies Corporation (NASDAQ:DVAX) also announced plans for the new pandemic influenza adjuvant program and Lyme disease vaccine programs to enter clinical development in 2025 and 2027, respectively. In addition, the company expects top-line results in Part 1 of the Phase 1/2 shingles vaccine trial by fiscal Q3 2025. Dynavax Technologies Corporation (NASDAQ:DVAX) is a biopharmaceutical company that discovers, develops, and commercializes novel vaccines and immuno-oncology therapeutics. The company's product pipeline includes HEPLISAV-B, a vaccine for all known subtypes of the hepatitis B virus in adults aged 18 and above. While we acknowledge the potential of DVAX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.

French intelligence: China used embassies to undermine sales of France's flagship Rafale fighter jet
French intelligence: China used embassies to undermine sales of France's flagship Rafale fighter jet

San Francisco Chronicle​

timean hour ago

  • San Francisco Chronicle​

French intelligence: China used embassies to undermine sales of France's flagship Rafale fighter jet

PARIS (AP) — China deployed its embassies to spread doubts about the performance of French-made Rafale jets after they saw combat in India and Pakistan's clashes in May, French military and intelligence officials have concluded, implicating Beijing in an effort to hammer the reputation and sales of France's flagship fighter. Findings from a French intelligence service seen by The Associated Press say defense attaches in China's foreign embassies led a charge to undermine Rafale sales, seeking to persuade countries that have already ordered the French-made fighter — notably Indonesia — not to buy more and to encourage other potential buyers to choose Chinese-made planes. The findings were shared with AP by a French military official on condition that the official and the intelligence service not be named. Four days of India-Pakistan clashes in May were the most serious confrontation in years between the two nuclear-armed neighbors, and included air combat that involved dozens of aircraft from both sides. Military officials and researchers have since been digging for details of how Pakistan's Chinese-made military hardware — particularly warplanes and air-combat missiles — fared against weaponry that India used in airstrikes on Pakistani targets, notably French-made Rafale fighters. Sales of Rafales and other armaments are big business for France's defense industry and help efforts by the government in Paris to strengthen ties with other nations, including in Asia where China is becoming the dominant regional power. France is fighting what it calls a disinformation campaign against the Rafale Pakistan claimed its air force downed five Indian planes during the fighting, including three Rafales. French officials say that prompted questions about their performance from countries that have bought the fighter from French manufacturer Dassault Aviation. India acknowledged aircraft losses but didn't say how many. French air force chief Gen. Jérôme Bellanger said that he's seen evidence pointing to just 3 Indian losses — a Rafale, a Russian-made Sukhoi and a Mirage 2000, which is an earlier generation French-made jet. It was the first known combat loss of a Rafale, which France has sold to eight countries. 'Of course, all those, the nations that bought Rafales, asked themselves questions,' Bellanger said. French officials have been battling to protect the plane from reputational damage, pushing back against what they allege was a concerted campaign of Rafale-bashing and disinformation online from Pakistan and its ally China. They say the campaign included viral posts on social media, manipulated imagery showing supposed Rafale debris, AI-generated content and video-game depictions to simulate supposed combat. More than 1,000 social media accounts newly created as the India-Pakistan clashes erupted also spread a narrative of Chinese technological superiority, according to French researchers who specialize in online disinformation. French military officials say they haven't been able to link the online Rafale-bashing directly to the Chinese government. Intelligence assessment says Chinese officials lobbied potential clients to ditch French planes But the French intelligence service said Chinese embassy defense attaches echoed the same narrative in meetings they held with security and defense officials from other countries, arguing that Indian Air Force Rafales performed poorly and promoting Chinese-made weaponry. The defense attaches focused their lobbying on countries that have ordered Rafales and other potential customer-nations that are considering purchases, the intelligence service said. It said French officials learned of the meetings from nations that were approached. Asked by AP to comment on the alleged effort to dent the Rafale's appeal, the Ministry of National Defense in Beijing said: 'The relevant claims are pure groundless rumors and slander. China has consistently maintained a prudent and responsible approach to military exports, playing a constructive role in regional and global peace and stability.' In recent years, China has stepped up disinformation campaigns on global social media platforms like X, Instagram or Facebook, using networks of state-sponsored influencers, sites that pose as news organizations, and fake social media accounts to spread narratives from Beijing. France's Defense Ministry said the Rafale was targeted by 'a vast campaign of disinformation" that 'sought to promote the superiority of alternative equipment, notably of Chinese design.' France considers the jet a 'strategic French offering' "The Rafale was not randomly targeted. It is a highly capable fighter jet, exported abroad and deployed in a high-visibility theater," the Defense Ministry wrote on its website. 'The Rafale was also targeted because it represents a strategic French offering. By attacking the aircraft, certain actors sought to undermine the credibility of France and its defense industrial and technological base. The disinformation campaign therefore did not merely target an aircraft, but more broadly a national image of strategic autonomy, industrial reliability, and solid partnerships.' Dassault Aviation has sold 533 Rafales, including 323 for export to Egypt, India, Qatar, Greece, Croatia, the United Arab Emirates, Serbia and Indonesia. Indonesia has ordered 42 planes and is considering buying more. China may be hoping to weaken the security relationships that France is building with Asian nations by spreading worries about the equipment it supplies, said Justin Bronk, an airpower specialist at the Royal United Services Institute, a defense and security think tank in London. 'From a point of view of limiting Western countries' influence in the Indo-Pacific, it would make sense for China to be using the performance of Pakistani weapon systems — or at least purported performance — in downing at least one Rafale as a tool to undermine its attractiveness as an export,' he said.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store