EU Trade Commissioner Maroš Šefčovič has emphasized the need for corrective measures to address the significant trade deficit between the European Union (EU) and China, which he describes as unsustainable. This concern was highlighted during his visit to China, where he engaged with representatives of European businesses operating in the region.
European companies have been voicing their desire for greater access to the Chinese market and enhanced protection of their economic interests. The trade imbalance, estimated to exceed $1 billion daily, remains a focal point of concern for the EU.
Šefčovič is scheduled to meet with Chinese Commerce Minister Wang Wentao to discuss various trade issues, including the growing deficit. These discussions aim to explore potential solutions to the trade imbalance and ensure fair market access for European businesses.
Another significant topic on the agenda is the potential for the EU to impose restrictions on imports of Chinese hybrid vehicles. This consideration comes as Brussels continues to scrutinize trade imbalances and market access issues.
The EU’s engagement with China seeks to foster a more balanced economic relationship, ensuring that European businesses can compete on an equal footing in the Chinese market. The ongoing dialogue between the two sides aims to address these critical trade concerns while promoting mutual economic interests.