The European Union is grappling with a significant trade deficit with China, prompting calls for re-risking trade relations rather than complete decoupling. The imbalance, accounting for over US$350 billion in goods in 2024, is exacerbated by China's higher exports and geopolitical uncertainties.
Trade between the European Union and China accounts for over 30% of global GDP. But with China exporting significantly more than it imports, it's a relationship many in Europe say is profoundly lacking in balance.
There has been nervousness about fixing that imbalance, given uncertain relations with Washington under the current Trump administration. The EU said trade tensions have led to a need to re-risk, rather than decouple from Beijing. 2024 data showed the EU trade deficit with China for goods stood at over US$350 billion. William Denselow reports from Brussels. There has been nervousness about fixing that imbalance, given uncertain relations with Washington under the current Trump administration. The EU said trade tensions have led to a need to re-risk, rather than decouple from Beijing. 2024 data showed the EU trade deficit with China for goods stood at over US$350 billion. William Denselow reports from Brussels.We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.
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