European Union Trade Commissioner Maroš Šefčovič has emphasized the need for measures to address the substantial trade deficit between the EU and China, describing it as unsustainable. During his visit to China, Šefčovič engaged with representatives from European businesses operating in the region, who are seeking greater access to the Chinese market and enhanced protection for their economic interests.
Šefčovič is set to hold discussions with Chinese Commerce Minister Wang Wentao. These talks will primarily focus on the EU’s growing trade deficit with China, which is currently estimated to surpass $1 billion daily. The discussions aim to tackle the trade imbalance and explore solutions to improve market access for European companies.
In addition to these discussions, another critical topic on the agenda is the potential imposition of EU restrictions on imports of Chinese hybrid vehicles. This consideration comes amid ongoing evaluations of trade imbalances and market access issues by Brussels, as the EU seeks to protect its economic interests and address competitive disparities.