The European Union is planning to dial back the threat of import tariffs against Chinese telecom equipment makers Huawei Technologies Co. and ZTE Corp., the Wall Street Journal reported Wednesday. The move is part of a broader deal to defuse trade tensions between the EU and China as Chinese President Xi Jinping visits Europe, it said. Under the deal on telecoms equipment, the EU and China will establish procedures to ensure that the market shares of Chinese firms in Europe and European firms in China stabilize around their current levels, the report said. In exchange, the EU will drop the threat of an investigation into whether Huawei and ZTE are selling their equipment in Europe at unfairly low prices, it said.
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