European Union Trade Commissioner Maros Sefcovic is in Beijing for high-level talks aimed at reducing the bloc’s growing trade deficit with China and improving market access for European companies.
The EU’s trade deficit with China now exceeds 1 billion euros a day. European officials are seeking concrete commitments from Beijing on trade imbalances, access to the Chinese market and restrictions affecting strategic raw materials.
The talks come after the European Parliament called for a tougher approach to China and warned that the bloc’s dependence on critical minerals could be used as economic leverage.
Germany and France have also urged the European Commission to prepare a new instrument that could allow the EU to respond rapidly to economic coercion by third countries.
Trade relations with China are expected to be a major issue at the next EU leaders’ meeting in Brussels on October 15 and 16.
