The European Union and China issued a joint statement to balance trade and address market access, with the EU demanding tangible results by October. To combat a trade deficit that grew 15% to €360 billion last year, the EU introduced new regulations on steel imports and small e-commerce parcels. These measures include a 3 euro customs duty on parcels under 150 euros and tariff-free quotas for steel. However, climate-driven demand for Chinese air conditioners highlights a conflict between EU political goals and industrial voids.
Editor's Analysis
Missing are the Chinese government's official response to the new regulations and the perspectives of European consumers or businesses affected by the new customs duties and steel quotas.
