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European Commission President Ursula von der Leyen warned Wednesday that the European Union’s trade talks with China must produce results, saying the bloc is prepared to use “all tools at our disposal” to rebalance the relationship.
Speaking to the European Parliament in Strasbourg, France, von der Leyen said the EU’s trade deficit with China had reached about €1 billion ($1.18 billion) a day.
“Our trade deficit with China is now one billion euros a day. It has reached a tipping point,” she said.
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Von der Leyen said concerns about a new wave of economic pressure from China were no longer hypothetical.
“Some say the second China shock is looming. But it’s already here,” she said.
She added that negotiations alone would not be enough without concrete results.
“Words are good. But deeds are better,” von der Leyen said.
She warned that if the imbalance persists, the EU would “use all tools at our disposal to rebalance our relationship.”
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