The US will cut tariffs on about $30 bln of imports from China, including toys, home appliances, baby products, kitchen and bathroom goods, and seasonal gifts. China will cut tariffs on about $30 bln of imports from the US, including agricultural products, personal-care items, medical devices and coal. Both sides agreed to jointly publish the detailed product lists.

The Financial Times reports European governments are discussing a new collective mechanism to respond to Russian aggression that falls below the threshold for an armed attack. Some states say existing tools have failed to deter Russia's hybrid tactics—sabotage, arson and measures to foment instability—and while views differ on specific responses, an increasing number favour a coordinated mechanism to act against incidents that would not trigger NATO's Article 5 collective‑defense clause. EU defence commissioner Kubilius said: If we are facing hybrid warfare, we need hybrid defence…we will study how to define the instruments we need to be prepared to use. EU defence ministers meet in Brussels on Monday to consider a Commission proposal for an emergency security pact that could be triggered to coordinate responses; the mechanism would be similar to consultations under NATO's Article 4.

Mainland banks listed in Hong Kong rallied. Industrial and Commercial Bank of China (01398.HK) rose over 3%, Agricultural Bank of China (01288.HK) gained 2.8%, Postal Savings Bank of China (01658.HK) and CITIC Bank (00998.HK) rose 2.6% each, Bank of China (03988.HK) and China Construction Bank (00939.HK) rose 2.3%.