EU Commissioner: EU's trade deficit with China is becoming "unsustainable"
Maros Sefcovic, EU Commissioner for Trade and Economic Security, stated that the EU's trade deficit with China is becoming "unsustainable."
The European Commission released a report on May 29, assessing the relationship between the EU and China in trade and investment as "unsustainable."
Sefcovic said during the OECD Ministerial Council Meeting: "I urged China's Deputy Minister of Commerce to seriously review our growing trade deficit with China, which is becoming unsustainable."
He noted that the EU's trade deficit with China is accumulating at a rate of approximately 1 billion euros per day.
Stéphane Séjourné, Vice-President of the European Commission for Industrial Strategy, said in an interview with foreign media in May that the EU would expand the use of import quotas and tariffs to protect its entire industrial sector from what he described as a "threat to survival" posed by imports of Chinese goods.
Subsequently, China's Foreign Ministry spokesperson Mao Ning stated that if the EU imposes new restrictions on Chinese goods, China will take countermeasures. The Chinese Ministry of Commerce also stated that if the EU begins restricting Chinese enterprises and products, China will respond firmly with retaliatory measures.
Source: sputniknews
Original article: toutiao.com/article/1867155443487756/
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