EU to Use All Tools to Curb China Trade Deficit, Says von der Leyen
EU leaders vow to tackle record trade deficit with China using all available tools, as Ursula von der Leyen warns of economic risks and calls for stronger pa...
POLICY WIRE — Strasbourg, France — European Commission President Ursula von der Leyen has declared that the EU will take every possible measure to address its growing trade deficit with China, calling the current imbalance unsustainable and at a critical tipping point.
In her annual State of the Union speech delivered in Strasbourg, von der Leyen emphasized the need for unity among EU member states as they face external challenges, including competition from China and political shifts within Europe. She highlighted the bloc’s increasing dependence on Chinese imports, which reached a daily deficit of €1 billion ($1.15 billion) last year.
Von der Leyen also stressed the importance of securing strategic resources and reducing reliance on China for critical materials, while calling for stronger collaboration with allies like Canada. The EU is set to implement new measures to rebalance trade relationships and prevent further deindustrialization, with a key deadline approaching in October.
Reporting by Policy-Wire (PW)
