Von der Leyen increases pressure on China: "Talks to reduce record trade deficit are not bringing progress"
European Commission President Ursula von der Leyen said that if talks to reduce the record trade deficit with China fail to bring any progress, the EU should use all its trade defense mechanisms.
Tensions have remained high between Brussels and Beijing since talks began last June. Over the summer, China took action to bar Chinese firms from participating in EU antitrust investigations, while the Commission has continued to open trade defence investigations into allegations of dumping of Chinese products on the European market.
"Dialogue with China remains necessary. But it must deliver results. And when dialogue is not enough, we must be ready to use our instruments to the full," von der Leyen said.
The EU is facing a wave of cheap imports coming from China, which have increased by 45% in five years, the Commission President added, noting that 30 trade defence investigations have been opened over the past year - "almost three times more than the historical average".
Von der Leyen's comments come at a time when the EU's trade deficit with China is running at 1 billion euros a day. The Commission has set an October deadline to reach a deal with Beijing to rebalance the trade relationship.
"China is a key economic partner. And our approach is clear and consistent: removing risks without breaking ties. But being a partner does not mean accepting permanent imbalances," von der Leyen said.
Beijing and Brussels have been on the brink of a trade war in recent months, with China repeatedly threatening to retaliate against proposed EU regulations that could reduce market access for Chinese firms.
Von der Leyen recalled that all EU member states now register a trade deficit with China.
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