Massive trade deficit becomes focal point as EU plans to reset trade relations with China
AFP, Brussels, 22nd — The European Union's industry chief said today that the bloc must rebalance its trade relationship with China. Brussels authorities are now refocusing on economic and trade ties with Beijing.
According to AFP reporting, last year the EU's trade deficit with Chinese goods surpassed 36 billion euros, fueling growing calls for addressing this imbalance.
Stéphane Séjourné, Executive Vice-President of the European Commission responsible for industrial policy, stated that trade openness remains a priority for Europe, but given the current deficit exceeding 36 billion euros with China, "a rebalancing of trade relations is necessary."
The Commission will hold a special debate on May 29th to discuss how this 27-member group should adjust its policy toward China in order to create a fair competitive environment.
EU officials revealed that discussions are underway regarding the upcoming visit of China’s Minister of Commerce to Brussels later next month.
Following the Commission’s debate, European leaders will convene a summit in Brussels on June 18–19 to further discuss EU-China trade relations.
In addition, Brussels authorities have taken multiple measures to protect the EU market from what they describe as "unfair Chinese competition," including imposing tariffs on small parcels originating from China.
Original article: toutiao.com/article/1865973983682891/
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