The EU and China will celebrate the 50th anniversary of the establishment of bilateral diplomatic relations in Beijing as many controversial issues suppress holiday sentiment.
European Commission President Ursula von der Leyen and European Council President António Costa will meet with Chinese President Xi Jinping and Prime Minister Li Qiang on Thursday to discuss trade, Ukrainian war and climate change.
EU officials said before the meeting that China and the EU are each other’s second important trading partners, but the current business relationship is “unsustainable” for the group.
Last year, the EU grew to more than 300 billion euros ($352 billion) as Beijing’s trade deficit grew.
With China’s large exports to Europe, imbalance is growing, but imports are very small, limiting the opportunity for European companies to enter the Chinese market.
Last year, the EU increased tariffs on Chinese electric vehicles, claiming that large subsidies gave Chinese manufacturers an unfair advantage.
However, Brussels wants to avoid escalating trade tensions because it relies on China in other regions. EU countries rely heavily on China’s import of rare earth elements.
Furthermore, China’s support for Russia in the war with Ukraine has long been concerned about the EU. According to EU officials, Costa and von Leyen plan to insist on an unconditional ceasefire in Ukraine and interrupt direct or indirect aid from China to Russia.
Despite tensions, the EU hopes to work with China to address climate change and reduce greenhouse gas emissions.
(LR) European Commission President Antonio Costa, Japanese Prime Minister Ishiba Shigeru and European Commission President Ursula von der Leyen attended the press conference after meeting in the Prime Minister’s Office. Christophe Licoppe/European Commission/DPA
