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UK Foreign Secretary David Lammy is in China for a two-day visit aimed at improving bilateral relations, which have soured over human rights issues and geopolitical tensions. He is set to meet with Chinese officials, including Foreign Minister Wang Yi, to discuss trade, climate change, and the Ukraine conflict.
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As tariffs on Chinese exports increase, concerns grow over the impact on China's economy and global trade. Economists warn that these measures could exacerbate existing weaknesses, particularly as domestic demand remains low. The U.S. trade deficit continues to widen, prompting discussions on reshoring and protectionist policies.
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On October 4, 2024, the EU voted to impose tariffs of up to 45% on Chinese electric vehicles (EVs) due to concerns over unfair subsidies. This decision aligns with a broader strategy to protect European automakers and follows a year-long investigation into China's trade practices. The tariffs will take effect on October 31, 2024.