EU sends envoy to Beijing as rising exports from China raise economic anxiety
Maros Sefcovic seeks market access and export limits as EU officials warn Chinese subsidies are deepening losses in cars, batteries and other industries.
- On Thursday, European Commission trade envoy Maroa arrived in Beijing for a two-day meeting with Chinese Commerce Minister Wang Wentao to address the EU's €360 billion trade deficit.
- Lawmakers in Strasbourg voted 454 to 86 on Wednesday for a resolution demanding economic reciprocity, reflecting broad anxiety over the EU's daily trade deficit exceeding $1 billion and potential job losses.
- This past weekend, Beijing launched an anti-dumping probe into EU p-nitrotoluene exports, following its warning that it would take retaliatory actions against protectionist measures.
- France and Germany proposed empowering the Commission to use the "trade bazooka," though Spain remains less adversarial toward China, complicating unified bloc strategy.
- European Commission President Ursula von der Leyen called the situation a "China shock" for Europe, though complete disengagement from Beijing remains economically impossible for the bloc.
172 Articles
172 Articles
The European Union is tightening its trade relations with China. European Trade Commissioner Maroš Šefčovič began two days of talks with Chinese Commerce Minister Wang Wenja in Beijing on Thursday. Brussels wants to reduce the trade deficit with China, which exceeds one billion euros a day, and ensure European companies have access to critical raw materials.
Maros Sefcovic classified the EU's trade deficit with China as "unsustainable", and Brussels threatened to adopt trade protection measures if Beijing did not correct the imbalance.
Beijing, Oct 9 (EFE).- European Commissioner for Trade, Maros Sefcovic, continues this Friday in Beijing the second round of the China-European Union (EU) trade and investment consultation mechanism, in a visit focused on the European trade deficit, access to the Chinese market and export tensions of the Chinese [...] Entry Radiography of the trade shock: China and the EU measure their forces in Beijing was first published in HolaNews.
Analysis. The EU's trade balance with China is completely skewed. Now the showdown is underway in Beijing. The EU summit is trying to "damage control", while a fierce report portrays China as Europe's adversary. But the Chinese government is unlikely to give in - and has already rejected an export ban on electric cars.
EU's $1 Billion Daily Trade Gap With China Tests Brussels' Resolve in Beijing Talks
EU Trade Commissioner Maroš Šefčovič is in Beijing pressing China to address a record €1 billion daily trade deficit that threatens European industry. With an October deadline looming and leaders meeting next week, the talks test whether dialogue can deliver results or if tougher measures are inevitable. The outcome will shape Europe's industrial future.
To the various problems is added one that no one wants to face: the EU's trade deficit with China, more than EUR 1 billion per day.
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