EU Trade Commissioner Maroš Šefčovič has raised concerns over the escalating trade deficit between the European Union and China, highlighting it as unsustainable during his current visit to China. The trade gap, which reportedly surpasses $1 billion daily, is a focal point of discussions as Šefčovič engages with Chinese officials and European business representatives.
In his meeting with European businesses operating in China, Šefčovič emphasized the need for improved market access and stronger protection of economic interests. These companies are pushing for better conditions to operate competitively within the Chinese market.
Šefčovič is scheduled to meet with Chinese Commerce Minister Wang Wentao to further address these issues. The talks will likely center on strategies to manage the trade imbalance and explore ways to enhance bilateral economic relations.
Additionally, the potential imposition of EU restrictions on imports of Chinese hybrid vehicles is on the agenda. This move comes as Brussels continues to scrutinize trade imbalances and concerns about market access, which are contributing factors to the growing deficit.