China and EU Avoid Trade Escalation After Talks

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China and the European Union (EU) can avoid "escalation" on various disputed issues, Beijing said on Saturday.

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China has welcomed compromises with the EU on trade and Chinese hybrid vehicles, saying they prevent escalation. Talks in Beijing have led to measures that reassure Europe on Chinese vehicles and rare earths.

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China's Ministry of Commerce stated today (10th) that China and the EU recently held in-depth discussions on trade in electric vehicles and hybrid electric vehicles, preventing an escalation of the situation. Previously, EU officials indicated that the two sides had reached an agreement to reduce the number of Chinese hybrid electric vehicles exported to the EU by more than half. Chinese Commerce Minister Wang Wentao and EU Trade Commissioner Š…