Caixin Summit: ‘Substantial’ Reduction of EU-China Trade Deficit ‘Necessary,’ EU Trade Chief Says

The European Union’s trade chief called for Beijing to reduce the bloc’s trade deficit with China, stating at the 14th Caixin Summit on Thursday that reciprocity in trade is needed to restore the confidence of businesses.

“I must be frank; the EU-China relationship is being tested,” said Valdis Dombrovskis, the European Commission’s executive vice president and commissioner for trade.