From POLITICO · · 1m 40s
EU and China trade talks still far from deal
EU trade commissioner Maroš Šefčovič says negotiations with China are constructive but difficult, with a one billion euro daily trade deficit at stake.
In brief
EU trade commissioner Maroš Šefčovič says negotiations with China are constructive but difficult, with a one billion euro daily trade deficit at stake. EU trade commissioner Šefčovič says talks with China on a trade deal remain far from complete, though he travels to Beijing October eighth for crucial discussions…
Talks constructive but difficult
EU trade commissioner Maroš Šefčovič told POLITICO on Thursday that China and the EU are still far from reaching a trade deal. The negotiations are constructive but difficult.
“noch lange nicht am Ziel”
Political pressure mounting
Šefčovič said he senses great political interest and very high expectations from EU leaders. He knows how politically impatient European leadership is about reaching an agreement.
“Ich weiß, wie politisch ungeduldig die europäische Führung ist.”
Beijing trip October eighth
Šefčovič travels to Beijing on October eighth for what he called an extremely important meeting with Chinese trade minister Wang Wentao. He expressed optimism the trip would bear fruit.
“äußerst wichtiges Treffen”
One billion euros daily deficit
The EU and China have negotiated since June over a growing trade deficit of one billion euros per day. EU leaders want to reduce Chinese imports and increase European exports to China.
Three key negotiation areas
Šefčovič hopes to bring results from Beijing on three main issues: sudden Chinese export surges in key industries, measures to boost European exports to China, and clarity on Chinese export restrictions for rare earths.
EU summit decides next steps
EU leaders will discuss results from the Beijing trip on October fifteenth and sixteenth at their summit in Brussels. The EU threatens to restrict Chinese companies' access to its internal market if talks fail.
What it means
EU trade commissioner Šefčovič says talks with China on a trade deal remain far from complete, though he travels to Beijing October eighth for crucial discussions.
