EU AND CHINA REACH RARE EARTHS DEAL AS TRADE PRESSURE MOUNTS

EU Trade Commissioner Maroš Šefčovič says Brussels and Beijing have reached an agreement on rare earths and magnets.

A separate understanding on hybrid vehicles could halve Chinese shipments to Europe.

However, Šefčovič warned that the EU will use its trade tools if negotiations fail to reduce the trade imbalance, calling the agreements only a first step.
(@WalterBloomberg)