
EU's von der Leyen hopes to ‘advance and rebalance' China ties at summit
Von der Leyen and European Council President Antonio Costa will raise thorny issues such as the trade imbalance, rare earths and Ukraine during meetings with Chinese President Xi Jinping and Premier Li Qiang.
'I'm convinced there can be a mutually beneficial cooperation,' von der Leyen wrote in an X post on Thursday, striking a more conciliatory tone after the weeks leading up to the summit were dominated by tit-for-tat trade disputes and hawkish rhetoric from European officials.
State news agency Xinhua also appeared to downplay Beijing's rivalry with the 27-member bloc in a morning commentary, saying China is a 'critical partner' to Europe with a range of shared interests.
'As the international landscape grows increasingly fraught, the anniversary offers a timely reminder: China is a critical partner to Europe, not a systemic rival,' Xinhua wrote, pointing out common interests including trade, climate, and global governance.
'These areas of common ground should not be eclipsed by isolated points of friction,' it said.
The EU defines China as a 'partner, competitor and systemic rival', which frames its strategic approach to China policy.
Other issues, including electric vehicles, market access and Chinese industrial overcapacity, will also be raised by European leaders at the summit marking the 50th anniversary of diplomatic relations between the EU and China.
Expectations for the summit are low after weeks of escalating tensions and wrangling over the format of the summit, which was abruptly shortened from two days to one at Beijing's request.
Trump may travel to China to meet Xi in 'not-too-distant future'
'Like all major economic players, China and the EU do not agree on everything. But disagreement does not equal confrontation,' Xinhua said, adding that the relationship needs more trust.
The EU is likely to seal a trade deal with the United States that would result in a broad 15% tariff on EU exports to the U.S. after intense negotiations, avoiding a harsher 30% levy threatened by U.S. President Donald Trump.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
4 hours ago
- Business Recorder
Trump says US will ‘very substantially' raise tariffs on India in next 24 hours over Russian oil purchases
WASHINGTON: U.S. President Donald Trump on Tuesday said he would increase the tariff charged on imports from India from the current rate of 25% 'very substantially' over the next 24 hours, given India's continued purchases of Russian oil. 'They're fueling the war machine, and if they're going to do that, then I'm not going to be happy,' Trump told CNBC in an interview, adding that the main sticking point with India was that its tariffs were too high. India accuses EU, US of double standard over Russian trade He did not provide a new tariff rate for India.


Business Recorder
5 hours ago
- Business Recorder
Wheat down 1-2 cents, corn down 1-2, soybeans up 4 to 5
CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading on Tuesday. Wheat - Down 1 to 2 cents per bushel Wheat futures approached their lowest points since 2020 as seasonal supply pressure from Northern Hemisphere harvests weighed on the market. A weekly U.S. Department of Agriculture crop progress and condition report on Monday put the nation's winter wheat harvest at 86% complete, compared to 80% a week ago. South Korea's Major Feedmill Group (MFG) purchased around 65,000 metric tons of animal feed wheat to be sourced from the United States in a private deal on Tuesday without issuing an international tender, European traders said. CBOT September soft red winter wheat was last down 1-3/4 cents at $5.15 per bushel. K.C. September hard red winter wheat was last down 2-1/2 cents at $5.14-1/2 per bushel. Minneapolis September wheat was last up 1/2 cent at $5.73-1/2 a bushel. Wheat up 2-3 cents, corn down 1-2, soybeans steady-down 1 Corn - Down 1 to 2 cents per bushel Corn futures headed down to set fresh contract lows, with steady U.S. crop conditions and a bumper Brazilian harvest also keeping the focus on ample supply. The USDA reported on Monday that 73% of the corn crop was in good or excellent shape, a nine-year high and unchanged from a week ago. Commodity brokerage StoneX projected on Monday U.S. 2025 corn production at 16.323 billion bushels, with an average yield of 188.1 bushels per acre (bpa), above the U.S. Department of Agriculture's latest corn harvest projection for a 15.705-billion-bushel crop with an average yield of 181 bpa. CBOT December corn fell 1-1/2 cents to $4.05-1/2 per bushel. Soybeans - Up 4 to 5 cents per bushel Soybean futures edged up, recovering from a four-month low, supported by larger-than-expected weekly U.S. export inspections, a slight fall in U.S. crop ratings and a rebound in palm oil futures. The USDA rated 69% of the soybean crop in good or excellent condition on Monday, a five-year high but slightly down compared to 70% last week. The USDA reported export inspections of soybeans in the week ended July 31 at 612,539 metric tons, above trade expectations for 250,000-460,000 metric tons. CBOT November soybeans were last up 5 cents at $9.99-1/2 per bushel.


Business Recorder
5 hours ago
- Business Recorder
Trump says he will raise tariffs on India soon over its Russian oil purchases
WASHINGTON: U.S. President Donald Trump on Tuesday said he would increase the tariff charged on imports from India from the current rate of 25% 'very substantially' over the next 24 hours, given India's continued purchases of Russian oil. 'They're fueling the war machine, and if they're going to do that, then I'm not going to be happy,' Trump told CNBC in an interview, adding that the main sticking point with India was that its tariffs were too high. India accuses EU, US of double standard over Russian trade He did not provide a new tariff rate for India.