EU Trade Commissioner Maroš Šefčovič is urging measures to address the European Union’s substantial trade deficit with China, which he has labeled as unsustainable. During his visit to China, Šefčovič emphasized the necessity of rebalancing trade relations, as the EU faces a deficit estimated to surpass $1 billion daily.
Šefčovič has engaged with representatives from European businesses operating in China, who are advocating for improved market access and enhanced protection of their economic interests. This dialogue is part of broader efforts to ensure fairer trade terms between the two economic giants.
The EU Trade Commissioner is also slated to hold discussions with Chinese Commerce Minister Wang Wentao. These talks are expected to focus on the trade imbalance and potential measures to address it. Among the issues to be discussed are possible EU restrictions on imports of Chinese hybrid vehicles, a topic that underscores broader concerns about market accessibility and fairness.
This visit and subsequent discussions come amid ongoing evaluations by Brussels regarding trade imbalances and the competitive landscape for European companies in China. The outcomes of these talks could significantly impact the future of EU-China trade relations.