Story perspectives

EU-China Trade Talks Strain as Deficit Rises, New Tariffs Loom

6/27/2026

Summary

Wang Meets EU

China’s commerce minister Wang Wentao met EU trade commissioner Maroš Šefcovic on 29 June 2026.
Šefcovic warned the EU’s deficit with China grows about €1 billion daily and could reach €400 billion in 2026.
Chinese state media claimed EU officials lack sincerity in talks and warned trade ties could freeze.
The EU is drafting an Industrial Accelerator Act that would impose tariffs and require 50 percent local employment for large non-EU investments.

Summary

Europe Scrambles

European consumers scramble for Chinese air conditioners as heat waves create shortages and raise prices, prompting a buyer to drive 200 km across EU and pay €100 for unit.
Chinese firms Midea, Haier and Gree adopted next-generation refrigerants, keeping costs low.
The shortage reflects Europe’s under-investment in capacity and retrofits.
Critics say politicians should ask citizens if they support tariffs or quotas on Chinese air conditioners, noting opinion favors imports.

1 of 2

Wang Meets EU

China’s commerce minister Wang Wentao met EU trade commissioner Maroš Šefcovic on 29 June 2026.
Šefcovic warned the EU’s deficit with China grows about €1 billion daily and could reach €400 billion in 2026.
Chinese state media claimed EU officials lack sincerity in talks and warned trade ties could freeze.
The EU is drafting an Industrial Accelerator Act that would impose tariffs and require 50 percent local employment for large non-EU investments.

1 / 2