EU sets up three months of talks with China over €360bn trade deficit

The European Union and China have agreed to avoid a trade war—at least for now. According to The Guardian World, the two sides will spend the next three months in formal trade negotiations to address their growing imbalance. China exports roughly three hundred sixty billion euros more to Europe each year than it imports, and Beijing had threatened retaliation if Brussels imposed new trade restrictions. This marks their first joint statement together in seven years.

Listen to this story

Hear this and more stories in a personalized audio briefing.

Open The Chonkerton