China imposed a reduced tariff rate on EU pork imports, offering hope of easing trade tensions between the two.
Beijing had threatened duties of over 60% on the bloc, the world’s biggest pork exporter, during a summer row that encompassed industries from semiconductors and cars to rare earths. Brussels said it was still concerned by the new — albeit lower — levies, though several EU member states voiced relief.
The bloc is seeking to balance promoting cooperation with the world’s second-biggest economy and fending off competition from it. Emphasizing this challenge, French President Emmanuel Macron wrote in the Financial Times: “Either we rebalance economic relations co-operatively… or Europe will have no choice but to adopt more protectionist measures.”
