Today’s key developments include the upcoming EU-China Summit, where both parties have reportedly reached a consensus on climate-related matters. Ahead of the summit, Bloomberg disclosed that the U.S. and EU might be nearing an agreement on imposing 15% tariffs on a wide range of imports. Analysts suggest that China may perceive greater diplomatic leverage if the U.S. and EU become embroiled in trade disputes. Meanwhile, the People’s Republic of China has confirmed that He Lifeng will travel to Sweden from July 27 to July 30 for high-level discussions. Despite a recent diplomatic incident involving a Commerce Department official, the talks are expected to proceed. U.S. Secretary Lutnick criticized the incident as “outrageous behavior” by Chinese authorities. Separately, the Trump administration unveiled its AI Action Plan, which outlines strategies to maintain technological competitiveness with China, including potential expansions of semiconductor export restrictions.