Latest news with #Antonio Costa
The Independent
24-07-2025
- Business
- The Independent
EU tells China ties have ‘reached inflection point' at tense Beijing summit
Xi Jinping asked European officials to 'properly handle differences and frictions' as the 25th China - EU summit got underway in Beijing amid simmering tensions over trade and the Ukraine war. 'The current challenges facing Europe do not come from China,' state news agency Xinhua quoted the Chinese leader telling European Commission chief Ursula von der Leyen and European Council president Antonio Costa on Thursday. The summit marks 50 years of the establishment of EU-China ties. Expectations are muted as the summit is being held under the shadow of growing trade tensions and hawkish EU rhetoric towards Beijing. Ms von der Leyen earlier this month accused China of using its manufacturing overcapacity to flood global markets and of 'enabling Russia's war economy'. The two sides differ significantly on the Ukraine war as China backs Russia's position on the conflict while the EU provides military, economic and diplomatic support to Kyiv. In addition to Mr Xi, Ms von der Leyen and Mr Costa are expected to meet premier Li Qiang, the Chinese foreign ministry said. Mr Xi urged the EU officials at the summit to "adhere to open cooperation and properly handle differences and frictions" after Ms von der Leyen warned that the bloc's ties with China were at an 'inflection point' and called for a rebalancing of trade ties with the world's second largest economy. 'Improving competitiveness can't rely on 'building walls and fortresses'. 'Decoupling and breaking chains' will only result in isolation,' Mr Xi added, according to Xinhua. He also urged the European leaders to "make correct strategic choices" in a veiled criticism of their recent hawkish stances on China. 'It is hoped the European side will keep the trade and investment market open and refrain from using restrictive economic and trade tools," he said, reiterating China's position on global trade in the wake of America's imposition of sweeping tariffs on almost all major countries. The EU delegation was expected to bring up the subject of electric vehicles and Beijing's export controls on rare earths. The controls temporarily stopped European automotive production lines when they were first announced in May in response to the US tariffs. The EU, meanwhile, has targeted Chinese exports of electric vehicles, among other goods, over the last year and its officials have repeatedly complained about Chinese industrial overcapacity. 'As our cooperation has deepened, so have imbalances,' Ms von der Leyen told the Chinese president during the meeting in the Great Hall of the People in Beijing. 'We have reached an inflection point,' she added, asking China to 'come forward with real solutions'. The EU's trade deficit with China surged to a historic high of £265bn last year. In spite of their differences, Beijing and Brussels agreed on a joint statement on climate, an area of mutual cooperation. They agreed to strengthen climate action, signalling renewed cooperation between two of the world's largest polluters at a time of rising global tensions and waning US leadership. They committed to submit new 2035 climate targets, scale up renewable energy, and deepen cooperation on methane, adaptation and green technology ahead of the COP30 climate summit in Brazil. 'This joint statement sends an important signal that climate cooperation can still rise above geopolitical tensions,' said David Waskow, international climate director at the World Resources Institute. 'Stronger leadership from these two major emitters is critically needed to rekindle global momentum after the US stepped away from the Paris Agreement again.' Climate advocates said the pledge could help stabilise the multilateral process but warned that concrete ambition was still lacking. 'The EU–China statement sends a timely message,' Andreas Seiber of told The Independent. 'But the level of ambition remains far too low… aligning with the 1.5C limit requires urgent, credible action, especially with COP30 fast approaching.'
CNN
24-07-2025
- Business
- CNN
China's Xi urges EU to make ‘the right strategic choice' amid international turbulence at key summit
Asia China European Union War in UkraineFacebookTweetLink Follow Chinese leader Xi Jinping told visiting European Union leaders that Europe should make 'the right strategic choice' and enhance cooperation with China for global 'stability,' as the two sides tackle deep-seated grievances at a key summit. Xi met with European Council President Antonio Costa and European Commission President Ursula von der Leyen in Beijing on Thursday morning, China's state broadcaster CCTV reported. The European leaders are in Beijing for what is expected to be a contentious summit, at a time of growing tension and mistrust between the two sides over their gaping trade imbalance, China's ongoing support for Russia in the Ukraine war, and – most recently – Beijing's chokehold on the rare earths supply chain. Von der Leyen told Xi that the EU's economic ties with China – running at a trade deficit of 300 billion euro (US$350 billion) last year – had reached 'an inflection point.' 'As our cooperation has deepened, so have imbalances,' she said. 'Rebalancing our bilateral relation is essential…It is vital for China and Europe to acknowledge our respective concerns and come forward with real solutions.' The summit, which has been whittled from a planned two days to a single-day event, is ostensibly meant to celebrate 50 years of diplomatic ties between Beijing and the EU. But expectations are low, and instead, it is expected to showcase a widening rift between the two sides – even though both had signaled hopes for a reset in relations just months earlier as they faced down US President Donald Trump's global tariff war. On Thursday, Xi told Costa and von der Leyen at the Great Hall of the People that the challenges currently faced by Europe 'do not come from China,' and that there are 'no fundamental conflicts of interest or geopolitical contradictions' between Beijing and the bloc, according to a readout from China's Foreign Ministry. 'In the face of accelerating changes not seen in a century and a turbulent international landscape, China and EU leaders must once again demonstrate strategic vision and responsibility, making the right strategic choices that meet the expectations of the people and stand the test of history,' Xi said, according to CCTV. Without directly mentioning Trump's trade war, Xi emphasized that both China and the EU are 'constructive forces that support multilateralism and advocate for openness and cooperation.' 'The more severe and complex the international situation becomes, the more China and the EU need to strengthen communication, enhance mutual trust, and deepen cooperation, so as to provide more stability and certainty to the world through a stable and healthy China-EU relationship,' Xi was quoted as saying. The EU was far from shy about its concerns in the lead up to the summit. Officials in recent weeks have reiterated concerns over what they say are inexpensive Chinese goods 'flooding' European markets, Beijing's recent move to squeeze the rare earths supply chain, and its ongoing backing for Russia as it wages war in Ukraine. Beijing has lashed out against those concerns, including the 27-member bloc's move last year to raise tariffs on its electric vehicles, launching a range of its own trade probes in apparent retaliation. After the EU last month announced it was barring Chinese companies from participating in public tenders for medical devices over a certain value, Beijing hit back with its own curbs on government purchases of Europe-made devices. On Monday, China's Ministry of Commerce slammed the EU decision to include two Chinese banks and a handful of other firms in its latest sanctions against Russia over its invasion of Ukraine. It claimed the move would have a 'severely negative impact on China-EU economic and trade relations.' A day later, Commerce Minister Wang Wentao lodged solemn representations — diplomatic speak for formally expressing serious discontent — over the sanctions in a video call with EU trade chief Maros Sefcovic. Trump's trade war – and his negotiations with both major economies – is also casting a long shadow over the summit. There were signs earlier this year that Beijing hoped shared adversity in the face of tariff threats from the US could push China and Europe together. But in separate addresses to G7 leaders and European lawmakers in recent weeks, von der Leyen made clear the bloc's deep concerns about Beijing were unresolved. 'China is using this quasi-monopoly (on rare earths) not only as a bargaining chip, but also weaponizing it to undermine competitors in key industries,' she told G7 leaders meeting in Canada in June. Beijing has extensive control over supply chains for these critical minerals key in everything from EV batteries and cell phones to fighter jets. It roiled the global manufacturing industry after placing export controls on some such minerals in April amid its trade spat with the US. China agreed during a truce with the US in June to ease these controls. Von der Leyen also called for unified G7 action to pressure Beijing as it 'floods global markets with subsidized overcapacity that its own market cannot absorb.'
CNN
24-07-2025
- Business
- CNN
China's Xi urges EU to make ‘the right strategic choice' amid international turbulence at key summit
Chinese leader Xi Jinping told visiting European Union leaders that Europe should make 'the right strategic choice' and enhance cooperation with China for global 'stability,' as the two sides tackle deep-seated grievances at a key summit. Xi met with European Council President Antonio Costa and European Commission President Ursula von der Leyen in Beijing on Thursday morning, China's state broadcaster CCTV reported. The European leaders are in Beijing for what is expected to be a contentious summit, at a time of growing tension and mistrust between the two sides over their gaping trade imbalance, China's ongoing support for Russia in the Ukraine war, and – most recently – Beijing's chokehold on the rare earths supply chain. Von der Leyen told Xi that the EU's economic ties with China – running at a trade deficit of 300 billion euro (US$350 billion) last year – had reached 'an inflection point.' 'As our cooperation has deepened, so have imbalances,' she said. 'Rebalancing our bilateral relation is essential…It is vital for China and Europe to acknowledge our respective concerns and come forward with real solutions.' The summit, which has been whittled from a planned two days to a single-day event, is ostensibly meant to celebrate 50 years of diplomatic ties between Beijing and the EU. But expectations are low, and instead, it is expected to showcase a widening rift between the two sides – even though both had signaled hopes for a reset in relations just months earlier as they faced down US President Donald Trump's global tariff war. On Thursday, Xi told Costa and von der Leyen at the Great Hall of the People that the challenges currently faced by Europe 'do not come from China,' and that there are 'no fundamental conflicts of interest or geopolitical contradictions' between Beijing and the bloc, according to a readout from China's Foreign Ministry. 'In the face of accelerating changes not seen in a century and a turbulent international landscape, China and EU leaders must once again demonstrate strategic vision and responsibility, making the right strategic choices that meet the expectations of the people and stand the test of history,' Xi said, according to CCTV. Without directly mentioning Trump's trade war, Xi emphasized that both China and the EU are 'constructive forces that support multilateralism and advocate for openness and cooperation.' 'The more severe and complex the international situation becomes, the more China and the EU need to strengthen communication, enhance mutual trust, and deepen cooperation, so as to provide more stability and certainty to the world through a stable and healthy China-EU relationship,' Xi was quoted as saying. The EU was far from shy about its concerns in the lead up to the summit. Officials in recent weeks have reiterated concerns over what they say are inexpensive Chinese goods 'flooding' European markets, Beijing's recent move to squeeze the rare earths supply chain, and its ongoing backing for Russia as it wages war in Ukraine. Beijing has lashed out against those concerns, including the 27-member bloc's move last year to raise tariffs on its electric vehicles, launching a range of its own trade probes in apparent retaliation. After the EU last month announced it was barring Chinese companies from participating in public tenders for medical devices over a certain value, Beijing hit back with its own curbs on government purchases of Europe-made devices. On Monday, China's Ministry of Commerce slammed the EU decision to include two Chinese banks and a handful of other firms in its latest sanctions against Russia over its invasion of Ukraine. It claimed the move would have a 'severely negative impact on China-EU economic and trade relations.' A day later, Commerce Minister Wang Wentao lodged solemn representations — diplomatic speak for formally expressing serious discontent — over the sanctions in a video call with EU trade chief Maros Sefcovic. Trump's trade war – and his negotiations with both major economies – is also casting a long shadow over the summit. There were signs earlier this year that Beijing hoped shared adversity in the face of tariff threats from the US could push China and Europe together. But in separate addresses to G7 leaders and European lawmakers in recent weeks, von der Leyen made clear the bloc's deep concerns about Beijing were unresolved. 'China is using this quasi-monopoly (on rare earths) not only as a bargaining chip, but also weaponizing it to undermine competitors in key industries,' she told G7 leaders meeting in Canada in June. Beijing has extensive control over supply chains for these critical minerals key in everything from EV batteries and cell phones to fighter jets. It roiled the global manufacturing industry after placing export controls on some such minerals in April amid its trade spat with the US. China agreed during a truce with the US in June to ease these controls. Von der Leyen also called for unified G7 action to pressure Beijing as it 'floods global markets with subsidized overcapacity that its own market cannot absorb.'
CNN
24-07-2025
- Business
- CNN
China's Xi urges EU to make ‘the right strategic choice' amid international turbulence at key summit
Chinese leader Xi Jinping told visiting European Union leaders that Europe should make 'the right strategic choice' and enhance cooperation with China for global 'stability,' as the two sides tackle deep-seated grievances at a key summit. Xi met with European Council President Antonio Costa and European Commission President Ursula von der Leyen in Beijing on Thursday morning, China's state broadcaster CCTV reported. The European leaders are in Beijing for what is expected to be a contentious summit, at a time of growing tension and mistrust between the two sides over their gaping trade imbalance, China's ongoing support for Russia in the Ukraine war, and – most recently – Beijing's chokehold on the rare earths supply chain. Von der Leyen told Xi that the EU's economic ties with China – running at a trade deficit of 300 billion euro (US$350 billion) last year – had reached 'an inflection point.' 'As our cooperation has deepened, so have imbalances,' she said. 'Rebalancing our bilateral relation is essential…It is vital for China and Europe to acknowledge our respective concerns and come forward with real solutions.' The summit, which has been whittled from a planned two days to a single-day event, is ostensibly meant to celebrate 50 years of diplomatic ties between Beijing and the EU. But expectations are low, and instead, it is expected to showcase a widening rift between the two sides – even though both had signaled hopes for a reset in relations just months earlier as they faced down US President Donald Trump's global tariff war. On Thursday, Xi told Costa and von der Leyen at the Great Hall of the People that the challenges currently faced by Europe 'do not come from China,' and that there are 'no fundamental conflicts of interest or geopolitical contradictions' between Beijing and the bloc, according to a readout from China's Foreign Ministry. 'In the face of accelerating changes not seen in a century and a turbulent international landscape, China and EU leaders must once again demonstrate strategic vision and responsibility, making the right strategic choices that meet the expectations of the people and stand the test of history,' Xi said, according to CCTV. Without directly mentioning Trump's trade war, Xi emphasized that both China and the EU are 'constructive forces that support multilateralism and advocate for openness and cooperation.' 'The more severe and complex the international situation becomes, the more China and the EU need to strengthen communication, enhance mutual trust, and deepen cooperation, so as to provide more stability and certainty to the world through a stable and healthy China-EU relationship,' Xi was quoted as saying. The EU was far from shy about its concerns in the lead up to the summit. Officials in recent weeks have reiterated concerns over what they say are inexpensive Chinese goods 'flooding' European markets, Beijing's recent move to squeeze the rare earths supply chain, and its ongoing backing for Russia as it wages war in Ukraine. Beijing has lashed out against those concerns, including the 27-member bloc's move last year to raise tariffs on its electric vehicles, launching a range of its own trade probes in apparent retaliation. After the EU last month announced it was barring Chinese companies from participating in public tenders for medical devices over a certain value, Beijing hit back with its own curbs on government purchases of Europe-made devices. On Monday, China's Ministry of Commerce slammed the EU decision to include two Chinese banks and a handful of other firms in its latest sanctions against Russia over its invasion of Ukraine. It claimed the move would have a 'severely negative impact on China-EU economic and trade relations.' A day later, Commerce Minister Wang Wentao lodged solemn representations — diplomatic speak for formally expressing serious discontent — over the sanctions in a video call with EU trade chief Maros Sefcovic. Trump's trade war – and his negotiations with both major economies – is also casting a long shadow over the summit. There were signs earlier this year that Beijing hoped shared adversity in the face of tariff threats from the US could push China and Europe together. But in separate addresses to G7 leaders and European lawmakers in recent weeks, von der Leyen made clear the bloc's deep concerns about Beijing were unresolved. 'China is using this quasi-monopoly (on rare earths) not only as a bargaining chip, but also weaponizing it to undermine competitors in key industries,' she told G7 leaders meeting in Canada in June. Beijing has extensive control over supply chains for these critical minerals key in everything from EV batteries and cell phones to fighter jets. It roiled the global manufacturing industry after placing export controls on some such minerals in April amid its trade spat with the US. China agreed during a truce with the US in June to ease these controls. Von der Leyen also called for unified G7 action to pressure Beijing as it 'floods global markets with subsidized overcapacity that its own market cannot absorb.'
Reuters
24-07-2025
- Business
- Reuters
EU-China summit live: Tariffs, Ukraine and rare earths dominate talks amid tense relations
What's happening? Chinese and European Union leaders are holding a summit EU Commission President Ursula von der Leyen is in Beijing She hopes to 'advance and rebalance' the relationship European Council President Antonio Costa also attending Both met Chinese President Xi Jinping Von der Leyen wants to rebalance EU-China relations 00:16 EDT Von der Leyen has said it is essential to rebalance bilateral relations between the EU and China. She called relationship "one of the most important and consequential in the world." Still, she said the relationship has reached an inflection point, according to media footage of the summit. Xi says EU should make 'correct' choices 26 minutes ago 00:05 EDT Chinese President Xi Jinping has said the EU should "make correct strategic choices", state media reported. He also said the EU and China should increase mutual trust and cooperation. What we know about the summit 42 minutes ago 23:48 EDT The EU-China summit will likely feature trade talks regarding China's rare earth exports, and its impact. In an apparent response to the U.S. tariffs placed on Chinese imports, China implemented 'non-discriminatory' export controls that don't necessarily target a specific country. Yet the controls have had drastic effects on the European Union economy. Rare earth exports are necessary to make magnets for car engines and transmissions for EV, defence, and clean energy industries. As the tariffs has slowed exports to the U.S., the excess EV vehicles have been rerouted to the EU, causing a slow in demand for domestic producers. Moreover, because they do not have the materials they need to produce like batteries, they must rely on Chinese imports. China produces about 90% of the world's rare earth, and its export controls is a retaliatory card it's pulled in the past. In 2010, they instituted controls on Japan when there was a Pacific region conflict between a Chinese trawler and two Japanese Coast Guard ship. EU hopes to 'advance and rebalance' China ties at summit 44 minutes ago 23:46 EDT European Union Commission President Ursula von der Leyen and European Council President Antonio Costa are meeting with Chinese leaders in Beijing. Thursday's EU-China summit is an opportunity to "both advance and rebalance our relationship", von der Leyen said hours before talks began. Von der Leyen and 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. 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.
