During a visit to China, EU Trade Commissioner Maroš Šefčovič has emphasized the need for measures to address the substantial trade deficit between the European Union and China. This deficit is reported to be over $1 billion a day, raising concerns about its sustainability.
Šefčovič’s visit includes meetings with European businesses operating in China, who are advocating for better access to the Chinese market and enhanced protection of their economic interests. These discussions highlight the challenges faced by European companies as they navigate the complexities of doing business in China.
The Trade Commissioner is also set to engage in talks with Chinese Commerce Minister Wang Wentao. The agenda for these discussions primarily focuses on the EU’s trade deficit with China, reflecting the EU’s efforts to balance trade relations between the two economies.
Another significant topic during Šefčovič’s visit is the potential for the EU to impose restrictions on imports of Chinese hybrid vehicles. This consideration is part of Brussels’ broader examination of trade imbalances and market access issues, aiming to ensure fair competition and address concerns about the impact of Chinese imports on the European market.