EU sends envoy to Beijing as rising exports from China raise economic anxiety
Both sides discussed ways to narrow the bloc’s 360 billion euro trade deficit, while China launched an anti-dumping probe on EU exports.
- 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.
182 Articles
182 Articles
In the midst of tense trade relations, Commissioner Šefčovič is looking for solutions. Beijing is not very willing to compromise.
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.
The EU hopes that two days of negotiations in Beijing will yield concrete Chinese concessions. Without action, political discontent in Europe could grow, says Agenda advisor.
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.
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