EU sets October deadline for ‘tangible results’ on China imbalances after key trade talks

EU sets October deadline for ‘tangible results’ on China imbalances after key trade talks Marathon session in Brussels sees Beijing agreeing to establish a ‘joint monitoring mechanism of trade flows’ to help ease economic tensions This will see them use the same agreed trade data to monitor surges in imports that would cross into a “red” zone, and quickly escalate to political talks, which would appear to be a departure from Beijing’s public dismissal of Europe’s complaints about trade imbalances and overcapacity. Sefcovic said talks had been “intensive, focused and constructive”, but warned that the bloc would be forced to take action should meaningful progress not be achieved before the autumn. “There is much more understanding for the common challenges for the European situation from our Chinese counterparts than we had before,” Sefcovic told reporters, adding that he would travel to Beijing again in the autumn to assess progress.