Perhaps there is a narrow pathway for China to revalue the yuan in exchange for the EU not going for broader tariffs. Only viable if the stick is real. An EUCO statement in June, threatening to deploy a broader safeguard, could give credibility.
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China Urges France to Help Keep EU Markets Open Through Dialogue
China said it hopes France will play an active role in encouraging the European Union to keep its markets open as well as resolve economic and trade disputes through dialogue.