China, EU commerce ministers meet amid widening trade imbalance

AI Summary

China and the EU commerce ministers met in Brussels to address trade imbalances amid a surge in cheap imports. Concurrently, oil prices increased due to ongoing US-Iran strikes, while South Korea announced a large investment in chip manufacturing.

EU Trade Commissioner Maros Sefcovic and his Chinese counterpart are meeting in Brussels as Europe prepares countermeasures to battle a flood of cheap imports. Also, oil prices climb after a weekend of renewed strikes between the US and Iran, and South Korea unveils a massive new investment in chip production.