EU's trade chief wants results on trade talks with China by October
EU and China agreed to four workstreams and a joint monitoring mechanism as Brussels seeks to narrow its record trade deficit.
- 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.
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30 Articles
EU Trade Chief Sets October Deadline for Beijing to Deliver ‘Tangible Results’
The European Union and China have agreed to set an October deadline to deliver results in resolving their trade frictions, Brussels’ trade chief Maros Sefcovic said Monday. After a day of discussions with Chinese Commerce Minister Wang Wentao, Sefcovic told reporters the timeline aligned with EU leaders’ and member states’ expectations for “expedient action.” “What is very important for us is engagement, is dialogue,” Sefcovic said in Brussels, …
El Periódico
With the trade imbalance between China and the European Union at maximum, and in the face of pressure from the leaders of the bloc, the parties have committed themselves on Monday to achieving "concrete progress" before a ministerial meeting next October, after a first contact this Monday in Brussels.Continue reading....
Meeting between Trade Commissioner Maros Šefčovič and Chinese Minister Wang Wentao, the parties want to obtain tangible results by October.In the first joint press release signed since 2019, listed four areas on which to work: balance of trade and investment, control of exports, protection of intellectual rights, reform of the WTO
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.
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