EU Trade Chief to Meet Chinese Minister Amid Growing Deficit Concerns

Brussels is set to host Chinese Commerce Minister Wang Wentao in late June for talks with European Commissioner for Trade Valdis Dombrovskis, confirmed an EU Commission spokesperson. The meeting comes at a critical juncture as the European Union grapples with a widening trade deficit with China, which has surpassed one billion euros per day in goods exchanges, according to Eurostat data. This escalating imbalance has fueled significant concerns within the EU regarding unfair competition. European leaders, at a recent summit, urged the Commission to bolster the EU's trade defense mechanisms, advocating for a more assertive stance against Beijing. Spanish Prime Minister Pedro Sánchez was noted as the sole exception, favoring a "pragmatic" approach. The EU attributes the deficit, in part, to the overcapacity of Chinese companies, which benefit from substantial state subsidies. European officials argue this state-backed competition poses a threat to vital industrial sectors, including the automotive, chemical, and steel industries. Beijing, however, categorically rejects these accusations. Data from the OECD indicates that Chinese firms received three to eight times more state support between 2004 and 2025 than comparable companies within the EU. Beyond industrial competition, the EU also expresses apprehension over its increasing reliance on China for critical supplies, such as rare earths, essential raw materials, and semiconductors. This dependency is viewed as a strategic vulnerability impacting Europe's economic and technological security.

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I can confirm that the Commissioner will receive Minister Wang in Brussels for meetings on Monday, June 29.