EU's trade chief wants results on trade talks with China by October
The sides agreed to four workstreams on trade, investment, export controls and intellectual property rights as they seek tangible results.
- On Monday, Trade Commissioner Maros Sefcovic and Wang Wentao met in Brussels to launch trade consultations, with the European Union seeking "tangible" results by October to rebalance the bilateral relationship.
- The European Union faces a record €1 billion daily trade deficit with China, prompting urgent action as Germany's automotive industry announced more than 100,000 job cuts amid fierce competition.
- Both sides agreed to establish four "workstreams" covering trade, export controls, intellectual property, and WTO reform, plus a "joint monitoring mechanism" to standardize trade flow data on both sides.
- To shield the European Union market, The Commission is reviewing defense instruments, including a "diversification mechanism," while updates to the Cybersecurity Act and Industrial Accelerator Act could exclude Chinese companies like Huawei.
- Sefcovic plans to visit Beijing in the autumn to "assess progress," though Beijing warned it may suspend trade relations if negotiations fail to deliver tangible results.
18 Articles
18 Articles
The EU wants to encourage China to make concessions in the trade dispute with the prospect of a free trade agreement, with progress in market access and export controls to be made by the autumn.
Brussels and Beijing agreed on Monday to activate a system of trade "smaphor" to curb Chinese export peaks that threaten European industry. The agreement principle, reached after a high-level meeting between European Trade Commissioner Maros Sefcovic and his Chinese counterpart Wang Wentao, represents the first joint declaration between the two powers since 2019 and seeks to correct a trade deficit that the European Commission already calls "uns…
The eagerly awaited meeting of EU Trade Commissioner Šefčovič and his Chinese counterpart Wang is going better than expected. Šefčovič expects rapid progress.
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