EU And China Strike Interim Trade Deal

HONG KONG (AP) — China and the European Union have reached a broad initial agreement to ease trade tensions. The EU trade commissioner announced Friday that the deal includes lower tariffs for some European goods and measures to stabilize rare earth supply chains. The agreement could cut up to 50% of Chinese electric and plug-in hybrid vehicle imports to the EU. The talks, which concluded Friday, aimed to address growing trade imbalances. Both sides plan to meet again in January by video and in person in March. The EU has been limiting imports of Chinese-made electric vehicles and other products, while China has launched investigations into EU imports.