China-EU trade tensions rise again as EU Commission President von der Leyen, in a summit statement, declares that the agreement reached with China earlier failed to address trade structural imbalances. The EU's daily trade deficit with China now exceeds EUR 1 billion, prompting von der Leyen to pledge further restrictions on Chinese goods. French President Macron also stated that the EU should focus measures on chemicals, plastics, and iron alloys. A Chinese Ministry of Commerce spokesperson responds that the EU cannot expect gains through pressure, underestimating China's resolve and capability to uphold its interests. Von der Leyen vowed to impose further restrictions on Chinese imports.
Background
The EU's trade deficit with China stems from its industrial structure, supply chains, and China's export competitiveness. Recent EU reports highlight the significant pressure Chinese output exerts on the EU market. As a result, calls within the EU for a tougher stance on China have intensified, covering sectors like manufacturing, agriculture, and technology.Analysis
This decision by the EU reflects the ongoing escalation of cross-continental trade friction. While some agreements have been reached in the automotive sector, a widespread trade imbalance persists. This underscores the increasing importance of supply chain diversification for EU nations. Macron's focus on specific industries suggests the EU aims for a more targeted approach in its cooperation and confrontation efforts.Chinese Ministry of Commerce Spokesperson stated that the EU cannot幻想 gains from pressure, overlooking China's determination and ability to safeguard its interests. The spokesperson noted that the understanding reached on hybrid vehicles between China and the EU, based on mutually beneficial principles, effectively addressed concerns of both sides without escalating trade conflicts. The claims of the EU's pressure being effective are unfounded.
The goal of China-EU trade negotiations is to resolve differences through dialogue, addressing mutual concerns. Both sides are urged to demonstrate sincerity in solving problems and advancing stable economic and trade relations between China and the EU.