EU seeks to cut trade deficit with China in Beijing talks
Chinese Commerce Minister Wang Wentao met European Trade Commissioner Maros Sefcovic in Beijing on Thursday for two days of talks aimed at reducing the EU's growing trade deficit with China, which exceeds 1 billion euros a day.
Chinese Commerce Minister Wang Wentao met with European Trade Commissioner Maros Sefcovic in Beijing on Thursday, the Chinese commerce ministry said, as the two sides began two days of talks aimed at reducing the EU's growing trade deficit with China.
The talks follow three months of discussions over the EU's goods trade deficit, which exceeds 1 billion euros (US$1.12 billion) a day. The EU has also raised concerns over Chinese curbs on exports of rare earths and other critical minerals.
Wang and Sefcovic are expected to address these trade imbalances and explore measures to increase European exports to China, according to the commerce ministry statement.
The EU has been pushing for greater market access in China and a reduction in what it sees as unfair trade practices. The deficit has become a key point of tension in EU-China trade relations, with European officials calling for more reciprocal trade terms.
China has previously stated its willingness to discuss trade issues but has defended its export controls on critical minerals as necessary for national security and environmental protection.