EU trade negotiators are heading to China for two days of high-stakes talks aimed at curbing cheap hybrid electric car imports and tackling Beijing's record £1bn-a-day trade surplus.
Key facts
- EU trade commissioner Maroš Šefčovič and his team fly to China on Wednesday.
- Talks are scheduled to begin the following day and continue late into Friday.
- The negotiations aim to tackle Beijing's record £1bn-a-day trade surplus.
- A key goal is curbing Chinese exports of cheap hybrid electric cars into Europe.
- EU member states have hardened their demands for protection against Chinese imports.
EU trade negotiators are travelling to China for two days of what have been described as crunch talks, with the aim of sealing a breakthrough deal to address Beijing’s trade surplus and limit its exports of cheap hybrid electric cars into Europe, according to the Guardian.
Trade commissioner Maroš Šefčovič and his team are due to fly out on Wednesday. The negotiations are scheduled to begin the following day and continue late into Friday, with the EU side expected to be negotiating up to the wire.
At the centre of the talks is Beijing’s record trade surplus, which the Guardian reports stands at £1bn a day. The EU is seeking to tackle this imbalance, in part by curbing the flow of inexpensive Chinese hybrid electric cars into the European market.
The Guardian reports that the mood in the trade talks is said to have changed, with EU member states hardening their demands for protection against Chinese imports. This shift signals a tougher stance from the bloc as it approaches the negotiating table.
The outcome of the discussions could have significant implications for both European carmakers and Chinese exporters, as well as for the broader trade relationship between the two economic powers.
Why it matters
Trade between the EU and China is a cornerstone of the global economy, and disputes over cheap car imports touch on jobs, industry and consumer prices across Europe. The outcome of these talks could shape how the bloc protects its domestic manufacturers while managing a key trading relationship.
Frequently asked questions
Who is leading the EU negotiations with China?
EU trade commissioner Maroš Šefčovič and his team are leading the negotiations, flying out to China on Wednesday according to the Guardian.
What is the main goal of the talks?
The talks aim to seal a deal tackling Beijing's record £1bn-a-day trade surplus, in part by curbing China's exports of cheap hybrid electric cars into Europe.
When are the talks taking place?
According to the Guardian, the EU team flies out on Wednesday, with talks scheduled to begin the following day and continue late into Friday.