„Our trade deficit with China now amounts to one billion euros per day. It has reached a breaking point. Some say the second China shock is approaching. But it is already here,“ she said while reading the annual report in the European Parliament in Strasbourg, France.
Read more Professional athlete suffered for years from an unnoticed disease: warns about insidious symptoms
„That is why we support dialogue with China to balance our trade,“ added U. von der Leyen. „But this dialogue must now deliver results. Due to weaker domestic demand, China also needs our European market. So it is beneficial for both sides to cooperate in seeking solutions.“
However, the EC President’s speech did not provide details about specific actions Brussels is prepared to take to protect European industry from what it considers unfair competition.
Read more „Luminor“ lowers this year’s GDP growth forecast
She emphasized that the Union „will use all the tools at our disposal to restore the balance of our relations.“
Read more President Valdas Adamkus’ 100th Anniversary – a Special Run Across America
„Words are good. But actions are better,“ she stressed.
