Wang Yi Calls on EU to Maintain Stable, Balanced Trade Relations
On November 10, Wang Yi called on the EU to maintain stable, balanced trade relations with China during a call with French Foreign Minister Jean-Noël Barrot. Disputes remain over electric vehicle tariffs and market access. Data released that day showed China’s trade surplus with the EU reached about $310 billion in the first 10 months of the year.
During a November 10 phone call with French Minister for Europe and Foreign Affairs Jean-Noël Barrot, Chinese Foreign Minister Wang Yi called on the EU to work with China to build stable, balanced trade relations. He said China and the EU are important trading partners, that stronger cooperation benefits both sides, and that escalating confrontation would harm both. Wang expressed hope that France would play an active role in promoting China–EU economic and trade relations.
Chinese Foreign Minister Wang Yi.（VietVance）
China–EU trade relations face disagreements over trade deficits, industrial subsidies, market access and export controls on strategic raw materials. The EU has repeatedly expressed concern about excess production capacity in China and difficulties European companies face in entering the Chinese market; China opposes measures it considers protectionist, particularly the EU’s countervailing duties on Chinese electric vehicles.
Trade data released on November 10 showed that China’s trade surplus reached a record $1.04 trillion in the first 10 months of this year, including a surplus of about $310 billion with the EU. Growth in Chinese exports of high-tech products and semiconductors has also heightened European concerns about trade imbalances and the competitiveness of domestic industries.
Earlier, China and the EU held their second round of trade and investment consultations in Beijing on October 8–9. They agreed to advance a mechanism for managing hybrid vehicle trade, facilitate export permits for rare earths and permanent magnets, and continue discussing tariffs and market access barriers. But fundamental disagreements, including tariffs on Chinese battery electric vehicles, remain unresolved. On November 10, Wang also said he hoped to strengthen economic cooperation with Slovakia and called on it to play an active role in stabilizing China–EU relations.
Source: VietVance
