EU trade deficit with China tops €1bn a day in July

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EU trade deficit with China tops €1bn a day in July

The Guardian · 24 minutes ago

The EU is importing far more from China than it exports there, with the bloc’s trade deficit exceeding €1bn a day in July. The widening imbalance is increasing pressure on Brussels to address trade relations with Beijing, as both sides seek to avoid a broader trade war.

The deficit reached €36.5bn in July, compared with €32.2bn a year earlier, while the January–July total rose to €234bn. For every €1 of goods exported to China, the EU imported €3.10; possible responses include quotas on Chinese hybrid vehicles and chemicals, whose imports have grown sharply. Chinese exports and rare-earth restrictions are also expected to feature in upcoming US-China and EU-China talks.

  • EU imports from China now outpace exports by more than three to one.
  • July’s trade deficit exceeded €1bn per day.
  • Brussels is considering quotas and further negotiations.

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Originally published by The Guardian as “EU spends three times more on imports from China than bloc exports there”.