EU-China talks yield concessions on EVs, rare earths, tariffs; trade war averted

EU and Chinese officials concluded trade talks in Beijing with mutual concessions on electric vehicles, rare earths, and tariffs, averting an immediate trade war. The EU trade chief called it a 'crucial first step,' but details remain vague and implementation uncertain. This de-escalation reduces near-term risk of tit-for-tat tariffs between the two blocs.