EU-China trade talks begin in Beijing amid escalating pressure
Summary
European Trade Commissioner Maros Sefcovic is in Beijing for talks about the EU’s large trade deficit with China, which is more than €1 billion daily. The EU wants China to limit exports of hybrid cars and critical minerals, while China warns it will respond strongly to any trade restrictions.Key Facts
- The EU’s trade deficit with China is over €1 billion ($1.12 billion) every day.
- Talks are between European Trade Commissioner Maros Sefcovic and Chinese Commerce Minister Wang Wentao.
- China rejected the EU’s request to voluntarily limit hybrid car exports.
- The EU is considering a unilateral plan to cap imports of Chinese hybrid cars.
- Germany and France want a quick EU tool to respond to trade damage from other countries, similar to US and Chinese trade measures.
- China warns against protectionism and calls for openness and free trade instead.
- Most EU lawmakers support a stronger trade policy towards China in a recent non-binding vote.
- Trade relations with China are a top topic for the upcoming EU leaders’ summit.
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