During a recent visit to China, EU Trade Commissioner Maroš Šefčovič called for measures to address the significant trade imbalance between the European Union and China. Šefčovič emphasized that the current trade deficit, which reportedly surpasses $1 billion daily, is unsustainable and requires urgent attention.
In his efforts to mitigate this issue, Šefčovič engaged in discussions with representatives of European businesses in China. These companies have expressed a desire for increased access to the Chinese market and stronger safeguards for their economic interests. The EU concerns not only revolve around market access but also involve the protection of European businesses operating within China.
Šefčovič is also expected to meet with Chinese Commerce Minister Wang Wentao to further address these concerns. The discussions will likely focus on strategies to balance the trade relations between the EU and China, amid ongoing scrutiny from Brussels regarding market access and trade imbalances.
Another topic anticipated in these talks is the potential for EU-imposed restrictions on Chinese hybrid vehicle imports. This consideration comes as part of the EU’s broader examination of trade dynamics and its pursuit of equitable trade practices with China.