Beijing, European Union
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EU Looks for 15% Tariff Rate in Possible Deal With U.S.
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Leaders at a summit in Beijing split over Ukraine and many trade issues. They came together with small steps on climate change and critical minerals.
Chinese President Xi Jinping criticised Brussels's recent trade actions against Beijing at a tense summit dominated by concerns on trade and the Ukraine war.
E.U. leaders are in Beijing to mark 50 years of diplomatic relations with China, but they have major disagreements over trade and Russia’s war against Ukraine.
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The European Union dominates critical pharmaceutical imports into the United States, making the 30% tariffs Trump threatened to go into effect Aug. 1 particularly risky.
European Union countries have expressed broad support for one round of 30% retaliatory tariffs if the United States does not reach a trade deal with the EU.
Trump has escalated his demands on the EU following weeks of negotiations over a possible framework deal, the Financial Times reported.
European bond yields rose as the European Union and the U.S. converge on a potential trade deal that would result in lower-than-feared tariffs on the bloc's exports. Germany's benchmark 10-year yield
New car sales in Europe fell more than 5% in June, the European Automobile Manufacturers Association (ACEA) said on Thursday, in a reflection of the global challenges faced by automakers.