Europe and China argue about trade
196
The EU and China have a problem. China sells many goods to Europe. Examples are electric cars and machines. Europe sells few goods to China. The difference is very big. It is 360 billion Euro per year. This is a 'Handels-Defizit'. The EU says: China gives money from the 'Staat' to its firms. This is bad for firms in Europe. Many people fear for their jobs. In 'Brüssel' important people met. 'Maroš Šefčovič' is an important man for the EU. He talked with 'Wang Wentao'. He is a minister from China. Both sides want no trade war. A trade war hurts the world. They made 4 groups for work. These groups want to find solutions. They talk about fair prices. They talk about safety for inventions. They also talk about 'Seltene Erden'. The EU wants first results in October. There is now a system like a traffic light. It checks the flow of goods. If China sells too much, the light turns red. Then the people must talk fast. Countries like France want strict 'Regeln'. Germany was careful for a long time. Now Germany also wants to protect its industry. Everyone hopes for a peaceful solution.
This text was generated automatically and has not been reviewed for accuracy. No guarantee is given for the correctness of the content. Learn more Learn more about article generation
Definitions
- Trade deficit
- A country buys more goods than it sells.
- State
- The government gives money to support firms.
- Rare earths
- These are special metals for phones and cars.
- Rules
- Guidelines to make trade fair for everyone.
People
- Maroš Šefčovič
- He is an important politician for the EU.
- Wang Wentao
- He is a minister for trade from China.
Locations
- Brussels
- This is a city in Belgium. The EU has its main office there.
Sources
Latest articles
Economy
Companies & Markets
AI makes tech devices expensive
Read nowDevices like phones and laptops get expensive. The reason is Artificial Intelligence. Big firms need much memory. This causes a shortage and high prices for users.
Economy
Companies & Markets
Future of VW: Job cuts and end of a partnership
Read nowThere are many questions about the future of Volkswagen. 100,000 jobs might go away. VW also plans to end the partnership with Bosch for self-driving cars.
Economy
Companies & Markets
British American Tobacco cuts 9.000 jobs
Read nowThe tobacco company British American Tobacco removes many jobs. About every 5th job ends. The company wants to save money and use new technology for the future.
Economy
Companies & Markets
South Korea spends much money on technology
Read nowSouth Korea wants to lead in computer chips and artificial intelligence. President Lee Jae Myung plans large investments and new factories in the south.