Business & Finance
EU trade gap with China exceeds three-to-one ratio
The Guardian reports that analysis of Chinese customs data shows the EU's deficit topped €1 billion a day in July.
The short version
- Analysis of customs data shows the EU imported €3.10 in Chinese goods for every €1 exported to China in July.[The Guardian]
- The EU's total trade deficit with China reached €234 billion over the first seven months of the year, up €21 billion from the prior year's period.[The Guardian]
- EU trade commissioner Maroš Šefčovič is scheduled to meet his counterpart in Beijing on October 8 to discuss trade tensions.[The Guardian]
Key facts
- Analysis of Chinese customs data indicates the EU trade deficit with China hit €36.5 billion in July.[The Guardian]
- For every €1 of goods exported to China in July, the EU imported €3.10 of Chinese goods.[The Guardian]
- The EU trade deficit with China reached €234 billion across the first seven months of the year, an increase of about €21 billion compared with the same period last year.[The Guardian]
- EU trade commissioner Maroš Šefčovič is set to travel to Beijing on October 8 for trade negotiations.[The Guardian]
What remains uncertain
- Whether upcoming bilateral negotiations in Beijing will result in concrete agreements or policy measures to reduce the trade imbalance.[The Guardian]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.
- EU spends three times more on imports from China than bloc exports thereThe Guardian - World