EU Trade Commissioner Maroš Šefčovič has emphasized the need to tackle the significant trade deficit between the European Union and China, calling it unsustainable. During his visit to China, Šefčovič engaged with representatives from European businesses operating in the region, who are advocating for expanded access to the Chinese market and better protection for their economic interests.
Šefčovič’s agenda in China includes planned talks with Chinese Commerce Minister Wang Wentao. The discussions are expected to focus primarily on the EU’s growing trade deficit with China, which reportedly surpasses $1 billion daily. This trade imbalance is a major concern for the EU as it seeks to balance economic relations between the two regions.
Another critical topic likely to be addressed is the potential for the EU to impose restrictions on imports of Chinese hybrid vehicles. This measure is under consideration as Brussels continues to assess trade imbalances and market access issues, which remain key points of tension in EU-China trade relations.