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EU and China set October deadline for trade talks
Officials from the European Union and China agreed to reach progress on trade disputes by October. The talks follow rising Chinese exports to Europe and pressure on European manufacturers.
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The agreement comes as European officials face a large increase in Chinese exports. Reports describe this surge as a second wave of competitive pressure on European industries.
European auto sector under pressure Volkswagen is planning mass layoffs and factory closures, Semafor reported. Other European carmakers are also consolidating operations after facing competition from Chinese brands and weaker sales in China. EU leaders have agreed to expand the bloc’s defensive trade tools as China’s trade surplus continues to grow.
Transparency
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