EU, China seek reset in tense trade ties
European Commission President Ursula von der Leyen emphasized the need for an "essential" rebalancing of trade relations with China during a recent summit with President Xi Jinping, describing the current ties as being at an "inflection point." This meeting, which marked 50 years of diplomatic relations, was characterized by low expectations due to escalating tensions and a last-minute reduction in its duration at Beijing's request.
Von der Leyen, alongside European Council President Antonio Costa, addressed critical issues including trade frictions and the Ukraine war. She highlighted the EU's significant trade deficit with China, which reached a historic 305.8 billion euros, and stressed the importance of acknowledging mutual concerns to find real solutions.
In response, Xi urged the EU to "make correct strategic choices," subtly criticizing Brussels' tough stance on China. He called for enhanced communication and cooperation, especially in light of the complex international situation.
Tensions between the EU and China have been rising, with the EU imposing tariffs on Chinese electric vehicles and China retaliating with duties on imported European brandy. Prior to the summit, von der Leyen accused China of flooding global markets and supporting Russia's war economy, but she later adopted a more conciliatory tone, expressing hope for mutually beneficial cooperation.
The summit also included discussions on climate cooperation, with both sides aiming for a modest joint statement. Chinese state media downplayed the rivalry, framing China as a "critical partner" for Europe, emphasizing shared interests in trade, climate, and global governance.
The EU's strategic approach defines China as a "partner, competitor, and systemic rival," reflecting the complexities of their relationship.
