EU and China agree on minimum price deal to avoid tariffs on electric vehicles

The European Union and China have reached an agreement to resolve a major trade dispute over electric vehicles (EVs). The deal involves Chinese EV makers agreeing to minimum prices for their exports to the EU, which would allow them to avoid new tariffs that the EU was considering.

This agreement follows weeks of tension, with China criticizing the EU's proposed tariffs as "naked protectionism." The deal is seen as a step to prevent a larger trade conflict between the two major economic powers.