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EU, China Sign Trade Mechanism Amid €1B-Daily Deficit

7/3/2026

Summary

Story summary

EU Trade Commissioner Maroš Šefcovic and China’s Commerce Minister Wang Wentao signed the EU-China Trade and Investment Consultation Mechanism in Brussels.
The mechanism will cover trade balances, export controls, intellectual property rights and WTO reform, with a working group starting to share data.
The EU’s trade deficit with China is €1 billion a day (?€360 billion annually), prompting Šefcovic to plan an October visit to present the mechanism’s results.

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Story summary

EU Trade Commissioner Maroš Šefcovic and China’s Commerce Minister Wang Wentao signed the EU-China Trade and Investment Consultation Mechanism in Brussels.
The mechanism will cover trade balances, export controls, intellectual property rights and WTO reform, with a working group starting to share data.
The EU’s trade deficit with China is €1 billion a day (?€360 billion annually), prompting Šefcovic to plan an October visit to present the mechanism’s results.