European Union Trade Commissioner Maroš Šefčovič began a two-day visit to China on Thursday, aiming to address the EU's unsustainable trade deficit with the country. The deficit has been a point of contention between the two economic giants, with the EU seeking to rebalance its trade relationship with China. Šefčovič's visit is seen as an effort to prevent further escalation of tensions between the two parties.
The EU has been critical of China's significant support for its domestic companies, which has led to a surplus of cheap products flooding the European market. This has threatened various EU industries, including the automotive sector. Additionally, the EU has expressed concerns about the obstacles faced by European companies in accessing the Chinese market, as well as alleged manipulation of supply chains and undervaluation of the Chinese currency.
Šefčovič's visit is part of an ongoing dialogue between Brussels and Beijing to resolve the trade dispute. The commissioner has stated that his goal is to "re-balance" the EU's trade deficit with China, which has been in place since 2025. He began his visit by meeting with representatives of European companies operating in China, seeking to improve their access to the Chinese market.
The EU's trade deficit with China has been a pressing concern for the bloc, with Šefčovič describing it as "unsustainable." The commissioner's visit is seen as a crucial step in addressing this issue, which has significant implications for the EU's economic relationship with China. Šefčovič's talks with Chinese officials will focus on finding a mutually beneficial solution to the trade imbalance.
The EU has been pressing China to address its trade practices, which the bloc believes are unfair and contribute to the significant trade deficit. Šefčovič's visit is part of a broader effort by the EU to promote fair trade practices and protect its economic interests. The outcome of his talks with Chinese officials will be closely watched by businesses and policymakers on both sides.
Šefčovič's visit to China comes at a time of heightened tensions between the EU and China over trade issues. The EU has been seeking to strengthen its trade relationships with other countries, while also pushing for greater access to the Chinese market. The commissioner's talks with Chinese officials will be seen as a test of the EU's ability to negotiate a more favorable trade agreement with China.
The EU's efforts to address its trade deficit with China are part of a broader strategy to promote sustainable and balanced trade relationships with its global partners. Šefčovič's visit to China is a key part of this effort, and his talks with Chinese officials will be closely watched by businesses and policymakers around the world. The outcome of his visit will have significant implications for the global economy and trade landscape.
Key points
- The EU's trade deficit with China stands at around €1 billion per day.
