The Aporia
Maroš Šefčovič, the EU's top trade envoy, is in Beijing for two days of crucial talks aimed at curbing China’s massive exports to Europe, which have led to an unsustainable daily trade deficit exceeding €1 billion. The discussions, scheduled from Thursday and Friday, focus on addressing concerns over Chinese subsidies and export surges in sectors like electric vehicles and machinery that threaten European industries. While there is hope for progress, observers remain cautious given the history of limited success in past negotiations. China's rapid expansion into hybrid car exports post-EU tariffs underscores the urgency to find a solution before Europe’s industrial base suffers further damage.
The European Union and China appear to have averted a major trade war after Beijing officials agreed to limit Chinese exports of hybrid cars to Europe.
Maros Sefcovic, the EU’s trade commissioner, concluded two days of intense talks in the Chinese capital on Oct 9 with a commitment that Chinese exports of hybrid and plug-in hybrid cars to the European trading bloc will be cut by more than half over four years, measured against this year’s volumes.