The Chinese commerce ministry's statement comes ahead of high-level talks in Beijing, emphasizing that any EU restrictions would undermine trust and disrupt negotiations aimed at addressing Europe's trade deficit with China. EU Trade Commissioner Maroš Šefčovič has indicated that the EU expects 'concrete results' from China by October, or it may resort to harsher measures.
Reports suggest that Germany and France are working on a proposal to expedite the development of a mechanism that could allow the EU to swiftly restrict Chinese access to its market, potentially mirroring the U.S. Section 301 tariffs.
This warning from China highlights the growing tensions in trade relations, especially as the EU's trade deficit with China has reached record levels, surpassing that of the U.S.
The outcome of these negotiations could have significant implications for global trade dynamics, particularly as the EU remains a crucial trading partner for China, with combined trade reaching nearly $1 trillion last year