EU Commissioner Šefčovič arrives in Beijing for talks with China — Al Jazeera
European Commissioner for Trade Maroš Šefčovič has arrived in Beijing for talks with China on the European Union’s growing trade deficit. During two days of meetings with China’s Minister of Commerce Wang Wentao, the sides will also discuss Chinese restrictions on exports of rare earths and other critical minerals, Al Jazeera reports.
Deficit of more than €1 billion per day
The talks come after several months of discussions on the trade imbalance. According to the outlet, the EU’s trade deficit with China exceeds €1 billion every day. Šefčovič said he seeks to achieve tangible results by October, as well as some commitment that could be presented to EU leaders at a meeting in Brussels.
European Commission President Ursula von der Leyen said in the European Parliament last month that the trade imbalance with China had reached a turning point. According to her, Europe will use all available tools to restore balance in bilateral relations.
More current news is available on the UA.News Telegram channel Telegram.
Dispute over hybrid cars
Chinese companies are increasingly competing with leading European carmakers. As the Financial Times reported, Beijing rejected the EU’s request for a voluntary restriction on exports of Chinese hybrid vehicles. According to the newspaper, citing two diplomats, the European Commission now hopes to secure China’s agreement to a unilateral EU measure to limit such imports.
Beijing’s position and the Paris-Berlin initiative
On the eve of the talks, a majority of European Parliament members supported a non-binding resolution calling for a more assertive trade policy toward Beijing. China’s Ministry of Commerce said that China would respond resolutely to protect its industries if the European Union imposed restrictions on Chinese companies or goods.
French President Emmanuel Macron and German Chancellor Friedrich Merz also called on the EU to prepare a rapid-response instrument against states that cause economic harm to the bloc. It is planned to be discussed at an EU leaders’ summit next week. China, in response, called on Paris and Berlin to refrain from protectionist measures.
