Wang Wentao

China has canceled talks with the EU due to trade tensions and rising exports. Brussels is preparing restrictions against Chinese goods and companies.

The European Union faces the risk of a severe supply crisis for critical materials. China has introduced new export restrictions on rare earth magnets and the raw materials for their production.

China and the European Union discussed strengthening economic cooperation in response to US tariffs. The discussion concerned the resumption of negotiations on trade preferences and prices for electric vehicles.

China's Minister of Commerce Wang Wentao stated the country's readiness for a trade war with the USA due to new tariffs. The PRC has set an economic growth target of 5% and promises to protect its interests.