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The European Union Chamber of Commerce in China has released a report urging European companies to eliminate single-source dependencies on both China and the United States. It highlights how firms are squeezed between Beijing's preferential policies for local companies and Washington's trade volatility. The chamber stresses that recent geopolitical shocks underscore the urgent need for supply chain diversification.

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China has banned soy imports from specific Brazilian plants after detecting pesticide-treated wheat in soy cargo. Beijing is ramping up purchases from US farms following trade talks.

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