China and EU launch new trade talks to avoid tariff war

China and the European Union have officially launched a new trade and investment consultation mechanism. The first meeting took place in Brussels on June 29. China’s Minister of Commerce Wang attended the meeting. The new mechanism is one of the most significant steps in China-EU economic relations in recent years. Both sides want to manage their complex commercial relationship through dialogue, not confrontation. The move comes as trade tensions between the two economies have been growing. The mechanism will allow both parties to discuss trade issues directly. This could help reduce the need for tariffs and other trade barriers.