EU Trade Commissioner Maroš Šefčovič is urging action to tackle the European Union’s increasing trade deficit with China, a situation he describes as unsustainable. During his visit to China, Šefčovič engaged with representatives of European businesses operating in the region, who are advocating for greater market access and enhanced protection of their economic interests.
Šefčovič is also slated to hold discussions with Chinese Commerce Minister Wang Wentao. These talks are expected to concentrate on the EU’s trade imbalance with China, which currently stands at an estimated $1 billion a day. This staggering figure underscores the pressing nature of the deficit issue.
Additionally, the possibility of the EU imposing restrictions on imports of Chinese hybrid vehicles is on the agenda. This potential move is part of Brussels’ broader examination of trade imbalances and market access concerns, reflecting the EU’s strategic considerations in addressing its trade relationship with China.