Latest news with #China-EU
Hindustan Times
a day ago
- Business
- Hindustan Times
China calls for France to help resolve trade differences with EU
China called on France to help resolve trade differences with the European Union, as Beijing seeks to shore up ties with the bloc amid simmering tensions with the US. 'It is normal to have differences in bilateral economic and trade cooperation, but the key is to resolve them through equal dialog and consultation,' Chinese Commerce Minister Wang Wentao told French Trade Minister Laurent Saint-Martin in Paris on the sidelines of a WTO ministerial meeting, according to a statement by China's commerce ministry. Wang urged France to push the European Commission to work with China to create conditions for expanding cooperation. The commerce minister is meeting top trade officials from the EU this week as both sides step up engagement as they face tariff pressure from President Donald Trump. Wang earlier met EU trade commissioner Maros Sefcovic and had 'frank and in-depth' discussions on issues surrounding China-EU economic and trade cooperation, according to a ministry statement. While China is seeking to bolster trade ties with the EU, disagreements between the two have been come under the spotlight this week, after the bloc agreed to impose curbs on procurement of Chinese medical devices. Beijing criticized the move as a protectionist measure and vowed to take action to protect the country's interests.
See - Sada Elbalad
a day ago
- Business
- See - Sada Elbalad
China Considers Ordering Hundreds of Aircraft from Airbus
Israa Farhan China is reportedly preparing to place a major order for hundreds of aircraft from European aerospace giant Airbus, according to sources cited by Bloomberg News. The potential deal is expected to be finalised next month, coinciding with a high-profile visit by European Union leaders to Beijing to celebrate 50 years of diplomatic relations between China and the EU. The discussions are still ongoing, with Chinese airlines negotiating the exact number and types of planes to be purchased. Sources indicate the order could include around 300 aircraft, covering both narrow-body and wide-body models, with estimates ranging between 200 and 500 planes in total. While the talks remain fluid and could either extend over a longer period or fall through, the timing aligns closely with visits from French President Emmanuel Macron, German Chancellor Friedrich Merz, and other European leaders planned for July. This visit marks the golden anniversary of China-EU diplomatic ties and is expected to highlight the long-term strategic partnership between the two sides. France and Germany hold the largest shares in Airbus, making the deal especially significant for both countries. A large-scale contract with Airbus would allow Chinese President Xi Jinping to send a strong message to US President Donald Trump amid ongoing trade tensions between the world's two largest economies. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan
Yahoo
2 days ago
- Business
- Yahoo
Trump isn't Beijing's only trade headache, as the EU targets Chinese medical devices
Global investors are paying close attention to U.S.-China trade tensions this week. Tensions are simmering as Washington and Beijing accuse each other of undermining last month's agreement–and officials hint of a possible phone call between U.S. President Donald Trump and Chinese President Xi Jinping this week. But the U.S. isn't Beijing's only headache. On Monday, members of the European Union voted to block Chinese companies from bidding for public procurement tenders for medical devices for contracts valued over 5 million euros ($5.7 million) for the next five years. It's the first use of the EU's 'International Procurement Instrument,' a 2022 law designed to encourage reciprocity in overseas procurement markets. Brussels has accused China of systematically discriminating against European providers. A European Commission investigation in January found that 87% of sampled Chinese public tenders discriminated, directly and indirectly, against imported medical equipment. The China Chamber of Commerce to the EU called on Brussels to reconsider its decision, saying the measures add 'new complexity to China-EU economic and trade relations.' Medical devices are just one area where Brussels and Beijing are butting heads on trade. In October, the EU slapped tariffs of up to 45% on Chinese-made electric vehicles to combat what it deemed to be an unfair level of state subsidies. The EU has also opened anti-dumping and anti-subsidy investigations into wind turbines, wood flooring, trucks, and passenger car tires. Brussels is also monitoring whether China's exports are being rerouted to Europe after Trump imposed high tariffs on Chinese goods. It has previously flagged industrial overcapacity in China as a concern, fearing that a flood of cheap goods could threaten European industry. China has fought back with its own probes, specifically into European brandy, pork and dairy products. Some of China's neighbors are also worried about a flood of cheap goods from the world's second-largest economy. Those fears could spark a 'tariff cascade', as countries erect new import duties to protect their local industries. Vietnam and South Korea both imposed anti-dumping duties on Chinese steel earlier this year. This story was originally featured on
Business Times
3 days ago
- Business
- Business Times
Chinese firms warn EU procurement curb could hurt trade ties
[BEIJING] A Chinese business lobby group warned that EU actions to curb access of the country's medical device makers to government contracts in the bloc will hurt trade ties. The China Chamber of Commerce to the EU expressed 'profound disappointment' over the EU's use of a trade tool to limit Chinese companies' participation in public procurements, according to a Monday (Jun 2) statement from the Chinese group. 'Its targeted application against Chinese enterprises sends a troubling signal-not only adding new complexity to China-EU economic and trade relations, but also contradicting the EU's stated principles of openness, fairness, and non-discrimination in market access,' said the organisation, whose members include the Bank of China, Cosco Shipping Holdings and BYD. The dispute threatens to add another irritant to relations just as Beijing seeks to shore up ties with the EU, positioning itself as a more reliable partner as US President Donald Trump alienates the bloc over issues from tariffs to defence. Chinese Commerce Minister Wang Wentao is due to meet with EU trade officials early this month in Paris, where he may address the bloc's trade grievances including a lack of fair access to China's own procurement market. European leaders will travel to Beijing for a summit next month with their Chinese counterparts. The EU curb represented the first use of its International Procurement Instrument, a 2022 law that's meant to promote reciprocity in access to public procurement markets. It allows the EU's executive arm to impose various restrictions on firms seeking to participate in procurements, ranging from score adjustments in tenders to an outright ban from contracts. The EU launched an investigation into China's procurement of medical devices last April, with the probe finding in January that Beijing discriminated against foreign firms. Consultations failed to find alternative solutions, Bloomberg previously reported. The Chinese commerce chamber argued that market reciprocity must be based on 'an accurate understanding of historical and practical realities'. 'For years, European medical device companies have enjoyed significant access to the Chinese market, playing a key role in supporting the modernisation of China's healthcare system and achieving substantial growth,' it said. 'The EU's current decision fails to acknowledge this context and undermines the spirit of balanced engagement and mutual benefit.' BLOOMBERG
Straits Times
3 days ago
- Business
- Straits Times
Chinese firms warn EU procurement curb could hurt trade ties
The dispute threatens to add another irritant to relations between Beijing and the EU. PHOTO: REUTERS BEIJING – A Chinese business lobby group warned that EU actions to curb access of the country's medical device makers to government contracts in the bloc will hurt trade ties. The China Chamber of Commerce to the EU expressed 'profound disappointment' over the EU's use of a trade tool to limit Chinese companies' participation in public procurements, according to a statement from the Chinese group on June 2. 'Its targeted application against Chinese enterprises sends a troubling signal – not only adding new complexity to China-EU economic and trade relations, but also contradicting the EU's stated principles of openness, fairness, and non-discrimination in market access,' said the organisation, whose members include the Bank of China, Cosco Shipping Holdings and BYD. The dispute threatens to add another irritant to relations just as Beijing seeks to shore up ties with the EU, positioning itself as a more reliable partner as US President Donald Trump alienates the bloc over issues from tariffs to defence. Chinese Commerce Minister Wang Wentao is due to meet with EU trade officials early in June in Paris, where he may address the bloc's trade grievances, including a lack of fair access to China's own procurement market. European leaders will travel to Beijing for a summit in July with their Chinese counterparts. The EU curb represented the first use of its International Procurement Instrument, a 2022 law that's meant to promote reciprocity in access to public procurement markets. It allows the EU's executive arm to impose various restrictions on firms seeking to participate in procurements, ranging from score adjustments in tenders to an outright ban from contracts. The EU launched an investigation into China's procurement of medical devices in April 2024, with the probe finding in January that Beijing discriminated against foreign firms. Consultations failed to find alternative solutions, Bloomberg previously reported. The Chinese commerce chamber argued that market reciprocity must be based on 'an accurate understanding of historical and practical realities'. 'For years, European medical device companies have enjoyed significant access to the Chinese market, playing a key role in supporting the modernisation of China's healthcare system and achieving substantial growth,' it said. 'The EU's current decision fails to acknowledge this context and undermines the spirit of balanced engagement and mutual benefit.' BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
