EU Trade Envoy Heads to Beijing to Narrow $1 Billion Daily Deficit with China
· World · The Independent, Al Jazeera, The Hindu
European Commission trade envoy Maroš Šefčovič travels to Beijing for two-day talks with Chinese Commerce Minister Wang Wentao. The goal is narrowing the EU's 360 billion euro ($410 billion) trade deficit with China. Earlier this year, he gave Beijing a deadline of October to provide meaningful results. European Parliament lawmakers voted 454 to 86 on a resolution calling for 'economic reciprocity and a proportionate EU response if China does not open its markets.' France and Germany have called for using the EU's 'trade bazooka' Anti-Coercion Instrument against Chinese exports.
Why it matters
The outcome of EU-China trade talks will affect global supply chains, European manufacturing jobs, and international trade policy direction.
Read the original report — The Independent
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.