EU wrestles over how to tackle China export flood (opens in new tab)

There is a growing consensus in the European Union that it is too dependent on China, and Brussels fears this makes it vulnerable to potential coercion and supply shocks. The bloc's trade deficit in goods hit around 360 billion euros ($417 billion) last year, meaning Chinese exports sharply exceeded the EU's. "Our trading relationship with China has reached a point that requires a reset. Not confrontation, but rebalancing," EU trade chief Maros Sefcovic said. While EU capitals agree on a comm...