Beijing says China-EU trade talks set in the fall, to be held regularly each year
Summary
China and the European Union will hold trade talks once or twice a year to try to balance trade between them. The EU faces a large trade deficit with China, and both sides want to work together on areas like artificial intelligence and renewable energy.Key Facts
- China and the EU agreed to hold minister-level trade talks regularly, starting this fall.
- The EU’s trade deficit with China reached about 360 billion euros ($410 billion) last year.
- Chinese exports to Europe include cars and batteries, which have increased recently.
- EU trade commissioner Maroš Šefčovič will visit Beijing in the fall as part of the new trade talks.
- Both sides plan to work on cooperation in technology areas such as artificial intelligence and clean energy.
- The EU introduced new measures to protect its steel industry and limit small parcel e-commerce from Chinese firms.
- China wants to import more from the EU but asks the EU to ease export controls on Chinese high-tech products.
- G7 countries aim to reduce dependence on China for critical minerals used in tech and defense industries.
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