Key facts
- EPP chairman Manfred Weber warned the EU faces a trade conflict with China if trade imbalances are not addressed by October.
- The EU aims to reach an agreement with China by October to address its widening trade deficit.
- Weber stated that the EU must fundamentally change its approach to China and ensure a level playing field.
- Concerns exist over Chinese industrial overcapacity undercutting European manufacturers and threatening jobs.
- EU leaders are reviewing trade defence instruments to protect the single market.
Manfred Weber, chairman of the European People's Party (EPP), has warned that the European Union is on the verge of a trade conflict with China unless a deal is struck by October to address significant trading imbalances. Weber emphasized the need for a "fundamentally changed" approach, stating that the EU cannot permit unfair trade practices and must ensure a level playing field.
This warning comes as the EU's trade chief, Maroš Šefčovič, indicated on Monday that the bloc would pursue an agreement with Beijing by October to manage the escalating trade deficit, driven by concerns over Chinese industrial overcapacity impacting European industries. The EU is considering new defence tools and a review of its trade defence instruments to protect the single market.