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Hong Kong/Taipei CNN —China and the European Union have agreed to exchange information on export controls as part of efforts to dial down tension over trade imbalances and geopolitical issues. I am glad that we made progress in addressing some market access issues,” Valdis Dombrovskis said in a statement. Hours before meeting He on Monday, Dombrovskis said China’s trade practices have forced the European Union to become more assertive in its dealings with the world’s second largest economy. China recently slapped export curbs on two semiconductor materials in a warning shot to Europe and the United States, after they imposed restrictions on China’s access to advanced chipmaking equipment. Moscow has become increasingly dependent on Beijing since its full-scale invasion of Ukraine in 2022, with trade between Russia and China soaring this year.

Persons: rebalancing, ” Valdis Dombrovskis, Dombrovskis, ”, ” Jorge Toledo, it’s, ” Dombrovskis, — Laura Organizations: Taipei CNN —, European Union, European Commission, EU, Union, Tsinghua University, China, Reuters Locations: China, Hong Kong, Taipei, Taipei CNN — China, Beijing, ”, EU, Europe, United States, Ukraine, Moscow, Russia

☆ EU trade chief promises more 'assertive' approach to China as deficit soars
▼ + stars: | 2023-09-25 | by ( Laura He | ) edition.cnn.com time to read: +4 min

And we will be more assertive in tackling unfairness.”The trade chief’s visit comes as tensions flare between the bloc and China over trade imbalances and geopolitical issues. The bloc’s trade deficit with China hit 396 billion euros ($421 billion) last year, which was “the highest in the history of mankind,” Jorge Toledo, the EU ambassador to China, was quoted by Reuters as saying. Dombrovskis said China’s new foreign relations law and its newly broadened counter-espionage law, in particular, were of “great concern” to European business. Two months later, it unveiled a sweeping foreign relations law enshrining its right to impose “countermeasures” against actions that it deems a threat. Russia has become increasingly dependent on China since the Kremlin ordered the full-scale invasion of Ukraine in February 2022.

Persons: Hong Kong CNN —, Valdis Dombrovskis, “, ” Dombrovskis, ” Jorge Toledo, Dombrovskis, ”, enshrining, Vladimir Putin, — Lucas Liliholm, Manveena Suri Organizations: Hong Kong CNN, Union, Tsinghua University, EU, China, Reuters, European Union, West, EU Chamber of Commerce, Kremlin Locations: China, Hong Kong, Beijing, Europe, EU, United States, Ukraine, Russia

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