Trade Relations News

EU Trade Chief Vows to Address China Trade Imbalance and Strengthen Relations

The European Union's trade chief, Valdis Dombrovskis, has vowed to adopt a more assertive approach towards China due to unfair trade practices, as the bloc's trade deficit with China reached a record high of 396 billion euros ($421 billion) last year. Dombrovskis called on China to address the lack of reciprocity in the economic relationship and expressed concerns about China's politicized business environment, discriminatory standards, and security requirements. Tensions between the EU and China also extend to the tech sector, with export curbs and restrictions on advanced chipmaking technology. The EU has launched an investigation into China's state support for electric vehicle makers, while China has criticized the probe as protectionist. The EU has broader concerns about the business environment for European companies in China and China's stance on the Ukraine conflict.