China-EU hybrid car export deal eases trade tensions ahead of EU summit

China agreed to cut hybrid car exports to the EU by up to 700,000 vehicles next year, reducing shipments to half or less of current EU forecasts. The deal, announced by EU trade chief Maros Sefcovic after two days of Beijing talks, trims up to €14 billion in trade and defuses tensions before a key European leaders' meeting. Implementation details and enforcement mechanisms remain uncertain.