China Extends Pork Probe Amid EU Tariff Negotiations

In a significant trade development, China announced on Tuesday the extension of its high-profile investigation into pork imports from the European Union for an additional six months. The decision comes just days before the initially scheduled conclusion and coincides with critical negotiations between Brussels and Beijing over electric vehicle tariffs.

The ongoing probe, launched in June last year, appears to be in response to EU tariffs placed on Chinese electric vehicle exports. This investigation has significantly affected around $2 billion worth of pork exports, mainly impacting key European producers like Spain, the Netherlands, and Denmark.

China, recognized as the world's largest consumer of pork, cited the 'complexity' of the case as the reason for the extension, as stated by the commerce ministry. Amid these tensions, the EU and China are reportedly nearing an agreement over the contentious tariffs, indicating a possible thaw in trade relations.

(With inputs from agencies.)