EU trade chief in China for talks
The European Commission’s top trade envoy, Maroš Šefčovič, is in China holding a two-day meeting with Commerce Minister Wang Wentao amid trade tensions between Beijing and the European Union. The EU is looking to narrow its 360-billion-euro trade deficit with China. Earlier this year, he gave Beijing a deadline of October to provide meaningful results in doing so. On the eve of the talks in…
Maroš Šefčovič, the European Commission's top trade negotiator, is currently in China for a two-day meeting with Commerce Minister Wang Wentao. The discussions come amidst escalating trade tensions between Beijing and the European Union, with the EU seeking to narrow its 360-billion-euro trade deficit with China. Šefčovič previously set an October deadline for China to deliver meaningful results.
On the eve of the talks, the European Parliament voted 454-86 to pass a resolution calling for tougher measures against China, emphasizing the need for "economic reciprocity and a proportionate EU response if China does not open its markets."
Earlier this week, France and Germany issued a letter urging a comprehensive review of the EU's China policy. Their proposal includes making it easier for the European Commission to utilize the bloc's "trade bazooka" – an anti-coercion instrument – to block or restrict trade and investment from nations exerting undue pressure on EU member states or corporations.
The Commerce Ministry in China responded by urging France and Germany to maintain open cooperation and free trade, adhere to World Trade Organization rules, and refrain from encouraging the EU to adopt protectionist measures. A ministry spokesperson emphasized that protectionism does not boost competitiveness and that decoupling and severing supply chains would harm others without providing personal benefits.
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