The EU posted record bilateral trade with China last year, but it is 'very unbalanced,' the bloc's Executive Vice President Valdis Dombrovskis said Saturday.
The European Union has no intention to decouple from China but needs to protect itself when its openness is abused, the bloc's Executive Vice President Valdis Dombrovskis said, as both sides look to cool rising tensions over geopolitics and trade.
Relations have become tense due to Beijing's ties with Moscow after Russian forces swept into Ukraine, and the EU's push to rely less on the world's second-largest economy. He arrived just over a week after the European Commission said it would investigate whether to impose punitive tariffs to protect European producers from cheaper Chinese electric vehicle imports it says are benefiting from state subsidies.
Citing the bloc's trade deficit as an example, he added, "the EU also needs to protect itself in situations when its openness is abused." The economic and trade dialogue on Monday between Dombrovskis and Chinese Vice Premier He Lifeng, the 10th such discussion since 2008, will be a "litmus test" for the two sides, Chinese nationalist tabloid Global Times said on Thursday.
China has blasted the probe as protectionist and the Chinese Chamber of Commerce to the EU said the sector's advantage was not due to subsidies.
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