European Union Will Use All Tools to Cut China Trade Deficit, Von Der Leyen Says
Ursula von der Leyen said the bloc will act to rebalance trade as the goods deficit with China averaged about €1 billion a day last year.
- On Wednesday, European Commission President Ursula von der Leyen announced the European Union will use 'every possible means' to reduce its 'unsustainable' trade deficit with China.
- Driven by a goods trade deficit of €1 billion a day last year, Leyen warned that Europe faces a 'second China shock' through deindustrialization as the situation reaches a tipping point.
- To mitigate reliance on Chinese rare earths, the European Commission plans to establish a new European Corporation to 'urgently procure and build up our reserves' for the 27-nation bloc.
- During her 'State of the Union' address to the European Parliament, Leyen stressed that 'we will use all the tools at our disposal to rebalance our relationship. But deeds are better.'
- European Trade Commissioner Maros Sefcovic, leading ongoing dialogue, aims to deliver tangible results by October, fulfilling June directives for the Commission to strengthen the bloc's defensive capacity.
33 Articles
33 Articles
Von der Leyen vows tough stance with China, using EU’s tools to rebalance trade
European Commission President Ursula von der Leyen has reaffirmed the bloc’s resolve to use all available tools to rebalance trade with China. After opening remarks about energy and innovation during her annual State of the Union speech at the European Parliament on Wednesday, she quickly pivoted to the EU’s trade deficit with China and contended that the “second China shock” had already arrived. She argued that European firms must compete on a …
The European Union is moving to use its trade tools to reduce its deficit with China, which has reached about one billion euros a day, amid fears of a decline in industry and dependence on Beijing in critical metals.
EU warns China trade imbalance must be addressed
The European Union is preparing to use a broader range of economic measures to reduce what European Commission President Ursula von der Leyen described as an unsustainable trade deficit with China. Speaking to the European Parliament on Wednesday, von der Leyen said the imbalance had reached a critical point, with the EU running a goods […]
The European Union's (EU) trade talks with China must yield results, and Brussels is determined to use all means to balance trade, European Commission (EC) President Ursula von der Leyen warned on Wednesday.
EU will use all tools to cut China trade deficit, von der Leyen says
BRUSSELS, Sept 16 (Reuters) - The European Union will use every possible means to reduce its "unsustainable" trade deficit trade with China, European Commission President Ursula von der Leyen said on Wednesday. Von der Leyen said that the imbalance, ...
The Economic Times
Times of IndiaEuropean Union will use all tools to cut China trade deficit, von der Leyen says
The European Union will employ all available tools to address its trade imbalance with China. Ursula von der Leyen stated the deficit has reached a critical tipping point. Europe faces deindustrialisation, which is a significant concern for the bloc. The EU seeks tangible results from ongoing dialogue with China by October. Additionally, the bloc will establish a new corporation for critical raw materials.
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