EU aims for progress in China trade talks
The European Union is aiming to achieve tangible results in its trade negotiations with China, which are intended to restore balance to the trade relationship between the two parties. After three months of intensive discussions, the European Trade Commissioner emphasized that the first phase of the dialogue should produce clear outcomes, focusing on addressing the European trade deficit with China, which amounts to approximately one billion euros daily, as well as the impact of cheap Chinese products on European industries and jobs. While there is a need for balance, both sides are concerned about the repercussions of upsetting China, which has the ability to restrict supplies of rare metals or impose export restrictions on European goods. Meanwhile, China heavily relies on exports to compensate for weak domestic demand.
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