The US and a core group of G20 economies are pursuing a coordinated effort to address cheap export surpluses that create global imbalances, with China resisting the stance.

Meanwhile, global bond market volatility is rising on debt and inflation concerns, and Japan’s 10-year yield hitting 3% signals renewed investor anxiety.

European and Canadian reactions are mixed: officials question Russia’s attendance and caution against normalizing ties, with some expressing discomfort over Russia’s inclusion.

China’s Global Times editorial argues that genuine dialogue with the EU requires the right attitude and to avoid coercive ultimatums.

The piece urges mutual respect, equality, and rules-based competition, warning against malicious competition or a trade war, and calling on the EU to listen to China’s concerns.

It also emphasizes that the door to dialogue remains open, provided the EU engages with the right approach and avoids coercive rhetoric.

EU leaders granted von der Leyen a mandate to rebalance through dialogue while keeping open the option to use or revise defense tools to reduce risk without severing ties.

The discussion includes defense instruments like the Anti-Coercion Instrument, which could affect public procurement access and IP rights, subject to majority EU support.

Von der Leyen reiterates the goal of reducing risks and recalibrating relations through dialogue first, resorting to defense measures if dialogue fails.

China urges both sides to implement their leaders’ consensus and resolve issues through equal, respectful, mutually beneficial consultations to maintain positive momentum in trade.

Both sides should preserve constructive momentum in economic ties and address concerns via dialogue.

Guo calls for mutual benefit, equality, and sustained dialogue as the framework for bilateral trade relations.