EU-China Trade Talks Focus on Hybrid Car Exports Amid Rising Tensions
Maroš Šefčovič, the European Union's top trade envoy, is in Beijing for high-stakes negotiations amid growing tensions over hybrid car exports. The EU has requested China to voluntarily reduce these exports, but Chinese authorities have reportedly rejected this call. Additionally, a widening trade surplus between the two regions and calls from Germany and France for stronger trade measures are expected to be discussed. Meanwhile, U.S. 10-year Treasury yields retreated following a successful $39 billion bond auction, though equities ended lower with futures pointing toward a flat open on Thursday. In France, Prime Minister Sebastien Lecornu addressed ongoing student protests and pledged concrete solutions as the country faces budgetary uncertainty. In corporate news, UK retailer Tesco raised its profit outlook after strong first-half revenue growth despite hot weather affecting sales.
