EU Aims for Fair Trade at Summit with China, says European Commission President
The European Commission President, Ursula von der Leyen, has stated that achieving a level playing field in trade will be a key objective of the EU summit with China in Beijing in December. Von der Leyen emphasized the need to address market distortions, including Chinese overcapacity in the clean tech sector, which is expected to exacerbate and impact the EU market. China’s trade surplus with the EU reached a record high of nearly 400 billion euros ($434.96 billion) last year.
During a conference on China in Berlin, von der Leyen highlighted the EU’s stance against both internal and external distortions, citing the ongoing investigation into imports of Chinese electric vehicles. She emphasized that Europe is open for competition but not for a race to the bottom.
While the EU will protect its interests, von der Leyen also stressed the importance of dialogue to address disagreements with China. The upcoming summit, scheduled for December 7-8, will provide an opportunity for discussions following the recent meeting between US President Joe Biden and Chinese President Xi Jinping.
Von der Leyen expressed the EU’s goal of achieving a level playing field in the trade relationship with China. She affirmed that Europe will approach the summit in good faith, raising concerns while also seeking a more ambitious and mutually beneficial relationship. Von der Leyen expects China to take action to address the current imbalances.
She recognized that the future of EU-China relations is yet to be determined and highlighted the agency both sides have in shaping their relationship. Von der Leyen concluded by stating, “Nothing is predetermined, we have agency, and China is capable of change.”
(Reporting by Sarah Marsh; Editing by Miranda Murray and Sharon Singleton)
