The European Commission increased pressure on China on Thursday and called for tangible results in trade negotiations with Beijing. This request followed a one-hour video call between Maroš Šefčovič, the Trade Commissioner, and Wang Wentao, his Chinese counterpart. The goal of the European Union is to obtain commitments from China to rebuild trade relations, as the trade deficit of this bloc with China is rapidly increasing by one billion euros per day.
Trade Challenges and Market Access
China is seeking access to the market of 450 million EU consumers and is resisting European requests to reduce its exports. The European Commission stated: "While real engagement remains a priority, it is important that tangible results are presented at the second meeting of the Trade and Investment Council in Beijing in October. This is a signal that we are moving from statements to results."
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Expectations from Upcoming Negotiations
The coming weeks will be crucial for negotiations. European officials will soon travel to China for technical talks, and Maroš Šefčovič will also visit Beijing on October 8-9. In her speech to the Members of the European Parliament, Ursula von der Leyen, President of the European Commission, emphasized the need to achieve tangible results in negotiations with China, stating: "Words are good, but actions are better."
China is expected to be prominently featured on the agenda of the upcoming EU leaders' summit in October. European leaders have asked the Commission to obtain more tangible results from its discussions with Beijing. In an interview, Šefčovič also emphasized that without a "deliverable outcome" for EU leaders, there would be "political interest in seeking solutions through other means."
The EU also has various trade defense tools, including anti-dumping tariffs and tariffs against unfair subsidies. Another goal is to reduce European companies' dependence on Chinese critical minerals for strategic technologies.
These developments come as relations between Beijing and Brussels are under pressure due to the introduction of several legislative proposals by the European Commission to protect the EU market. One of these proposals includes introducing a European preference for products made in Europe.
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