EU pledges all tools to cut China trade deficit
The European Union will use all available means to reduce its unsustainable trade deficit with China. Commission President Ursula von der Leyen cited deindustrialization risks and critical mineral reliance.
The European Union will deploy all available policy instruments to reduce its trade deficit with China, European Commission President Ursula von der Leyen said on Wednesday morning. The announcement comes as the bloc's goods trade deficit with Beijing reached €1 billion ($1.15 billion) a day last year. European officials warned that deindustrialization risks intensifying across member states without immediate corrective action.
