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Reuters
32 minutes ago
- Business
- Reuters
EU leaders brace for frosty China summit as trade frictions bite
BEIJING, July 22 (Reuters) - Expectations are rock-bottom for an EU-China summit on Thursday that will test European resolve and unity as the bloc faces intense trade pressure from both Beijing and the United States, analysts say. European Commission President Ursula von der Leyen and European Council President Antonio Costa plan to press Chinese leaders on rare earths and the war in Ukraine, both areas of tension, during the summit in Beijing. There is little hope for headway, at a time both sides face major challenges sustaining economic growth and Europe struggles to shore up support for Ukraine. The summit was shortened from two days to one due to a "scheduling conflict" raised by Chinese officials, two sources familiar with the planning told Reuters. A business roundtable that was meant to happen on the second day in the city of Hefei will now take place in Beijing, one of the sources said. Both sides may reach a modest joint statement on climate, one of the sources said, but no other tangible achievements are expected. In multiple recent speeches, von der Leyen has revived hawkish China rhetoric, accusing China, opens new tab on July 8 of "enabling Russia's war economy" and flooding global markets with overcapacity. "We know that we don't see eye to eye with China on many issues, but we believe that it is essential to have this kind of very direct and open and constructive conversation," said one EU official. The official and the sources declined to be identified as they were not authorised to speak to media. A spokesperson for the European Commission referred to a statement announcing the summit, which said leaders would discuss ways of ensuring "a more balanced, reciprocal and mutually beneficial trade relationship". In response to Reuters' questions, the Chinese foreign ministry referred to a spokesperson's statement on Monday. "Some people in Europe continue to ... exaggerate specific economic and trade issues and make groundless accusations against China on the Ukraine issue, causing unnecessary interference to China-EU relations," its spokesperson said. The 27-member European Union has also been negotiating hard with Washington after U.S. President Donald Trump threatened 30% tariffs on most EU exports from Aug. 1, with prospects for a broader trade deal fading. At the Beijing summit, China hopes to press the EU for a solution to its tariffs on China-built electric vehicles, for which Beijing claims price commitment negotiations are in the "final stages". But European officials say there has been little progress for months. Last week, China threatened to respond to EU sanctions on two Chinese banks and five firms over the Ukraine war. Its commerce ministry said on Monday the sanctions "seriously harmed trade, economic and financial ties". Other trade disputes are simmering in the background. China retaliated against EU restrictions on medical device procurement with its own curbs on July 6, and slapped duties on French cognac producers. China's exports to the EU grew in May while its U.S. exports plunged 34.5% in value terms the same month, sparking fears Chinese trade overcapacity is being diverted to the bloc due to U.S. tariffs on Chinese goods. There is also a growing sense that EU firms are collateral damage for China's rare earth export controls that primarily targeted Washington but have disrupted European defence and automotive supply chains. In return for concessions on rare earths, China's asks could include reviving a long-stalled investment agreement after Beijing lifted sanctions on European Parliament members in May, and pushing back on U.S. export curbs on Dutch firm ASML's chipmaking equipment. China has raised both in the weeks leading up to the summit, two sources familiar with the matter said. "The mood is extremely pessimistic in Europe regarding the summit," said Mathieu Duchatel, a director at the Institut Montaigne think tank in Paris, adding that Washington rejected previous EU proposals for coordination on China policy. "There is a sense that the gloves are completely off on the Chinese side ... They sense the transatlantic relationship has weakened and are trying to seize the opportunity." Diplomats and analysts also say that China is growing increasingly frustrated behind closed doors with European officials' repeated insistence on the war in Ukraine, which Beijing views as an obstacle in the relationship. There is little space for constructive dialogue on this, another EU official admitted, with Chinese counterparts denying evidence of Chinese firms' involvement in supplying dual-use goods to Russia. Meanwhile, China believes Europe will cave in to U.S. tariff pressure, said a diplomat familiar with Chinese official thinking. Beijing succeeded in getting Trump to lower crushing 145% tariffs during talks in May and scored a further win when Washington agreed to resume Nvidia H20 AI chip exports, leaving it in a relatively strong position. "This will be the latest in a long list of EU-China summits that have delivered next to nothing," said Noah Barkin, senior advisor at Rhodium Group's China practice. "It is a sign that the economic and security problems in the relationship have become so deep-seated as to be irreconcilable."
Yahoo
7 hours ago
- Business
- Yahoo
China's market regulator suspends antitrust investigation into DuPont China
BEIJING (Reuters) -China's market regulator said in a statement on Tuesday that it had suspended the antitrust investigation into DuPont China Group, a subsidiary of the U.S. firm DuPont. The regulator launched an investigation into DuPont China in April for its alleged violation of the country's anti-monopoly law, amid a heated trade war between China and the Unites States. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
7 hours ago
- Business
- Reuters
China's market regulator suspends antitrust investigation into DuPont China
BEIJING, July 22 (Reuters) - China's market regulator said in a statement on Tuesday that it had suspended the antitrust investigation into DuPont China Group, a subsidiary of the U.S. firm DuPont (DD.N), opens new tab. The regulator launched an investigation into DuPont China in April for its alleged violation of the country's anti-monopoly law, amid a heated trade war between China and the Unites States.
Wall Street Journal
10 hours ago
- Automotive
- Wall Street Journal
How China Curbed Its Oil Addiction—and Blunted a U.S. Pressure Point
BEIJING—China's thirst for oil drove global demand for decades. Now a government campaign to curb that addiction is nearing a milestone, with national consumption expected to peak by 2027, then begin to fall. Chinese officials have long worried that the U.S. and its allies could hamstring the nation's economy by choking off its supply of foreign oil. So China has poured hundreds of billions of dollars into weaning itself off the imported stuff by reviving domestic production and swiftly building the world's leading electric-vehicle industry.
Yahoo
17 hours ago
- Automotive
- Yahoo
Bird and Segway Partner to Launch Next-Gen Shared Micromobility Fleet Across North America
Industry Leaders Unite to Deliver Smarter, Safer, and More Sustainable Urban Rides BEIJING, July 21, 2025 /PRNewswire/ -- Bird, a pioneer in shared micromobility, and Segway, a global leader in electric vehicle innovation, announced a strategic alliance to roll out advanced new electric scooters and e-bikes across key North American markets. This next-generation fleet combines Segway's engineering excellence with Bird's operational expertise to set new standards for performance, safety, and sustainability in urban transportation. The partnership introduces three co-developed models—the Bird Dash, Bird Explorer, and Bird Journey—designed to meet diverse rider needs, from daily commuting to recreational trips. All three models feature improved vehicle durability, cutting-edge safety systems, and a lower environmental footprint, with deployments beginning this summer across North America. "This collaboration brings together the best of what Bird and Segway offer: world-class technology, rider-first design, and innovation to deliver more sustainable urban mobility," said Stewart Lyons, Co-CEO of Bird. "Together, we're shaping the future of micromobility by expanding access to safe, reliable, and efficient transportation in cities and communities around the world." Optimized for Efficiency and Performance The new vehicles are equipped with IPX7-rated water resistance, reinforced structures, and low-maintenance components that increase reliability and reduce operational costs. The Bird Journey e-bike offers a range of up to 90 kilometers on a single charge—supporting longer commutes with fewer battery swaps. Optimized energy usage lowers standby power and delivers greater efficiency across fleets. These durability and efficiency improvements collectively reduce total cost of ownership (TCO) , delivering superior long-term value. Rider feedback for this initial launch has been exceptional, resulting in a 40% increase in ridership of these new vehicles. Riders particularly like the smooth ride, sleek look and feel and features like the new charging block for your mobile device. Coming from Bird Team Commitment to Safety and Compliance All three models feature enhanced braking systems (dual drum + electric), bright LED lighting with turn indicators, and onboard sensors to detect sidewalks and pedestrians—triggering alerts and automatic speed adjustments to help prevent collisions. Each model exceeds industry safety benchmarks, including UL2272 and UL2849 certifications. "Segway has always pushed the boundaries of intelligent mobility," said Alan Zhao, General Manager of the Sharing Business Division. "With Bird, we're delivering a smarter and safer riding experience, purpose-built for today's cities and tomorrow's expectations." Designed for Sustainability Sustainability is embedded into every layer of the new fleet—from recycled materials and modular parts to closed-loop packaging and longer-life batteries. These upgrades support Bird and Segway's shared goal of building a more circular economy and advancing climate-friendly mobility at scale. Together, Bird and Segway are redefining what's possible in shared mobility—empowering cities and riders alike with smarter, safer, and more sustainable ways to move. This launch marks just the beginning of their continued collaboration to build the future of micromobility. View original content to download multimedia: SOURCE Segway Sign in to access your portfolio
