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Diplomatic Meeting Faces Challenges
The upcoming EU-China summit scheduled for late July appears significantly shortened amid growing tensions between the trading partners. Originally planned as a two-day event across Beijing and Hefei, sources indicate it may now last just one day in China's capital.
Trade Disputes Dominate Agenda
Key issues include EU tariffs on Chinese electric vehicles, China's export restrictions on rare earth metals and semiconductors, and retaliatory duties on European cognac. The EU accuses China of unfair trade practices including overproduction and state subsidies, while China has launched anti-dumping investigations targeting European agricultural products.
Resource Control as Leverage
China's near-monopoly on rare earth metals - crucial for electronics and green technology - gives it significant bargaining power. Though China promised a "fast track" licensing system for European companies, no operational mechanism exists yet.
Geopolitical Complications
The Ukraine conflict remains a major point of contention, with China maintaining close ties to Russia. A recent US-China trade agreement on rare earths further pressures the EU, which faces a July 9 deadline to negotiate its own deal.
