China and the United States are making progress in their trade talks. The two sides said last week that they had reached agreement on how to implement the trade framework negotiated in London earlier this month. Under the latest agreement, Beijing will expedite rare earth exports to the U.S., while Washington will lift a series of restrictive measures imposed on China.
In contrast, trade friction between China and the European Union has escalated over the public procurement of medical devices. Beijing has accused the EU of unilaterally erecting new trade barriers and threatened countermeasures after Brussels banned Chinese companies and products from taking part in EU government medical device tenders exceeding 5 million euros ($5.8 million).
