China's Ministry of Commerce today announced sanctions against two European Union banks, both headquartered in Lithuania. The move comes as direct retaliation after the EU sanctioned two Chinese financial institutions last month as part of its 18th package of sanctions against Russia.

Over the weekend, the U.S. and EU announced some details of a bilateral trade deal, although many points remain unclear.

A high-level summit between the European Union and China this week underscored persistent deep divisions over trade imbalances and market access, with some progress on export controls. While both sides expressed a desire for cooperation, the detailed exchanges revealed significant hurdles to easing economic friction.

Following up on an earlier inquiry, the Irish Data Protection Commission (DPC) has announced a new inquiry into TikTok's practices related to the transfer of European user data to China.

Last week, remarks from European Commission President Ursula von der Leyen on challenges presented by China ignited a strong rebuttal from China's Ministry of Commerce (MOFCOM) spokesperson, highlighting the deepening economic and trade disputes between the two global powers. As the EU and China prepare to commemorate 50

China announced new restrictions on European Union medical device companies participating in its government procurement, a move Beijing described as a reciprocal response to similar measures adopted by the European Commission.

Last week, China's Ministry of Commerce (MOFCOM) concluded its 18-month anti-dumping investigation on EU brandy. Effective July 5, final anti-dumping duties of 27.7% to 34.9% will apply, though some companies will be exempted due to price undertakings.