Šefčovič: Verhandlung mit China noch ohne Ergebnisse

EU Trade Commissioner Maroš Šefčovič revealed on Thursday that trade talks with China are far from reaching a conclusion, describing them as "constructive but difficult." The commissioner noted the strong political interest and high expectations from EU leaders during a meeting of G20 trade ministers in Milwaukee. Šefčovič is set to visit Beijing on October 8th for what he called a "very important meeting" with Chinese Trade Minister Wang Wentao, expressing optimism that the trip will yield results.

The EU is contemplating restricting access for Chinese companies to its single market if the negotiations fail. Since June, the EU and China have been negotiating a potential trade deal, with EU leaders expressing their desire to put an end to China's massive import volume and trade deficit with the Union. Šefčovič emphasized that the decline in the EU-China trade deficit of one billion euros per day would have direct consequences for thousands of European jobs and the social model Europe has developed over decades.

The main topics of discussion include sudden rises in Chinese exports in key industries, measures to increase European goods exports to China, and clarity on Chinese restrictions on raw material exports, particularly rare earths. Šefčovič met Chinese Vice-Minister Li Chenggang in Milwaukee, who stated that China understands EU concerns.

The Slovak commissioner affirmed that all issues raised by the EU are on the table, although he could not guarantee that they will be resolved. Šefčovič noted that some of these issues were previously difficult to put on the agenda, but the current awareness of their political importance for both parties reflects positively on their negotiations.

The EU's discussions with China have been divided into four work areas: trade and investment balance, export controls, intellectual property, and the reform of the World Trade Organization (WTO). A well-informed source stated that the Commission aims for an agreement with China that combines bilateral agreements for certain product groups with unilateral restrictions for other categories.