OREANDA-NEWS A The European Union is working on options for trade measures to counter China's planned export controls on critically important raw materials if Brussels fails to reach a diplomatic solution with Beijing, Bloomberg reports, citing informed sources.

According to sources, by the end of the month, the European Commission will prepare a list of trade measures that can subsequently be applied against China to strengthen its negotiating influence.

The issue is likely to be addressed at a summit of EU leaders in Brussels this week, although the commission wants to avoid discussing specific measures, the sources said.