EU Plans Trade Rebalancing with China at Beijing Summit

European Commission President Ursula von der Leyen has emphasized the European Union's urgent need to rebalance its economic relationship with China, highlighting concerns over China's trade surplus, state-subsidized industrial overcapacity, and restricted market access for European firms. She criticized China's export of cheap goods that undercut European businesses and called for fair, reciprocal access to the Chinese market, as well as the easing of export restrictions on rare earth materials. Von der Leyen also linked these economic issues to broader geopolitical concerns, including China's support for Russia's war effort in Ukraine. In response, China's foreign ministry urged the EU to shift its mindset rather than its trade policies, accusing the EU of unfair practices, particularly in public procurement, and defending its retaliatory restrictions on medical device purchases from the EU. This growing tension sets the stage for the upcoming summit between EU leaders and Chinese President Xi Jinping, where both sides will seek common ground amid persistent frictions and global economic uncertainties.