EU leaders back stronger trade defences amid surge in Chinese exports

Meeting at the European Council summit in Brussels, the EU's 27 leaders agreed to strengthen the bloc's trade defence instruments. The decision follows an 18% rise in industrial imports from China over the past 12 months. European Commission President Ursula von der Leyen said: "This is not about protectionism; it is about ensuring a level playing field for our industries."

German Chancellor Friedrich Merz said priority should go to steel, chemicals and electric vehicles, while French President Emmanuel Macron asked that wind turbines and solar panels be added to the package. Spain and Italy agreed that China's pricing strategy was placing "its biggest-ever pressure" on EU industry. By September the Commission will produce concrete proposals to speed up anti-dumping and countervailing procedures.

Beijing foreign ministry spokeswoman Mao Ning said the EU decision "could be incompatible with World Trade Organization rules". The Euro Stoxx 600 rose 0.4 points, with automotive and steel shares advancing between 1.2% and 2%. The euro pushed past 0.8550 against the pound.