China's MOFCOM: urges EU to view trade ties without bias or emotion

China's MOFCOM: urges EU to view trade ties without bias or emotion

Title: China's MOFCOM Urges EU to View Trade Ties Without Bias or Emotion

China's Ministry of Commerce (MOFCOM) has called on the European Union (EU) to reassess its approach to trade relations, emphasizing the need to shift away from a mindset focused solely on economic and trade dynamics. This statement comes as the two economic powerhouses prepare for a high-stakes summit later this month, which will address contentious issues such as tariffs on Chinese electric vehicles and China's support for Russia following its invasion of Ukraine.

MOFCOM spokesperson Mao Ning urged the EU to focus on rebalancing its perspective rather than the economic relationship itself. This call follows European Commission President Ursula von der Leyen's recent remarks that rebalancing economic ties with China should be a significant priority for the EU [2].

The ongoing diplomatic discussions highlight the complexity of China-EU trade dynamics. In recent months, tensions have escalated over various issues, including China's tightening grip on rare earths, which has impacted European businesses. The EU has long complained about unfair market access for its companies in China and has imposed steep tariffs on Chinese electric vehicle imports, alleging state subsidies gave these vehicles an unfair advantage [1].

In response to the EU's tariffs, China has taken retaliatory measures, such as excluding EU-based companies from Chinese government procurement for certain medical devices. However, major European companies like Siemens Healthineers AG and Royal Philips NV, which have localized their production, are expected to be minimally affected by these trade restrictions [1].

The upcoming summit between EU and Chinese leaders in Beijing is set to address these trade tensions. Despite the challenges, China's leader Xi Jinping has sought to repair ties with the EU, which has been strained due to issues ranging from tariffs to defense policies under former US President Donald Trump [1].

The EU is also holding back on signing a joint declaration on climate action with China at the meeting, further complicating the diplomatic landscape [1]. As the summit approaches, both sides are urged to resolve current trade tensions to ensure patients have timely access to essential medical technologies and to foster a more balanced and cooperative trade relationship.

References
[1] https://www.ndtvprofit.com/global-economics/chinas-retaliation-to-eu-curbs-blurs-ties-before-summit
[2] https://www.devdiscourse.com/article/politics/3498101-eu-needs-a-mindset-shift-on-china-trade-says-beijing