The easing of trade tensions between the United States and China is a step in the right direction and helps reduce European fears of being flooded with Chinese goods redirected from the U.S. market, European Economic Commissioner Valdis Dombrovskis said.

The easing of trade tensions between the United States and China offers a glimmer of hope for Europe's concerns about an influx of Chinese goods. European Commissioner Valdis Dombrovskis praised the progress,

Brussel's envoy to Beijing said that "the situation is not improving" during candid remarks on trade ties Friday.

European shares surged on Friday, capping off a week filled with earnings across the continent, as signs of a potential de-escalation of trade tensions between the U.S. and China and a stable jobs report in the United States aided risk-taking.

The easing of China-US trade tensions has done little to revive US liquefied natural gas exports to China, according to Chinese LNG traders. US President Donald Trump last month announced sweeping tariffs on trading partners, including a 145% tariff rate for China, with Beijing reciprocating by imposing a 125% rate on US goods.

Global sales of battery-electric vehicles and plug-in hybrids rose to 1.5 million in April, the Rho Motion data showed. Sales in China were up 32% from the same month of 2024 to 0.9 million vehicles. Europe reported a 35% year-on-year increase in registrations to 0.3 million cars sold, while in North America they fell 5.6% to 0.1 million.

By Sukriti Gupta (Reuters) -European shares surged on Friday as signs of a potential de-escalation of trade tensions between the U.S. and China lifted risk sentiment while investors assess a flurry of corporate earnings and key economic data.

Donald Trump's threat of tariffs on foreign-made films risks stoking tensions between the European and American film industries and dominating conversations at the Cannes film festival this week. The US president has added a trade war to the sector's list ...