EU demands concrete results from China - October deadline to reach trade deal. Otherwise, tariffs
Beijing must deliver "concrete results" by October or face "tougher measures," European Union Trade Commissioner Maroš Šefčovič warned, as Brussels set an October deadline to curb China's record trade surplus with the bloc.
With talks already underway, Šefčovič said the risks go beyond trade, with the future of European industry at stake. The next two weeks will be crucial, with a video call between the EU trade chief and his Chinese counterpart, Wang Wentao, planned for mid-September.
“This is a very political issue,” he said, adding that European leaders want to see results by October. Earlier this week, European Commission President Ursula von der Leyen told a business forum in France that dialogue only works if it delivers results.
While Šefčovič did not provide details on what the punitive measures would look like, he explained that Brussels is seeking to finalize a “diversification instrument” designed with China in mind. He also said that the EU is now much more united in its objectives for the negotiations.
“I am trying to achieve results through negotiations, but Beijing needs to bring us very concrete results. Otherwise, of course, there will be a strong political movement to push for tougher measures,” he said. Šefčovič will travel to China in October, ahead of a summit of EU leaders in Brussels, where the issue is expected to be at the top of the agenda. All EU countries currently have a trade deficit with China.
Brussels and Beijing have been on the brink of a trade war in recent months, following the European Commission’s application of several measures restricting access to the EU market for Chinese companies and threats of retaliation from China. Despite delicate discussions with Beijing, the Commission has already launched several investigations into Chinese products for suspected unfair trading practices. Von der Leyen said the investigations were being intensified “significantly.”
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