EU preparations for diplomatic visits to Tokyo and Beijing, in anticipation of the conclusion of their respective tasks with the United States
At the 2023 EU-China Summit, held after the EU-Japan Summit, both parties expressed a desire to foster a constructive, stable, balanced, and mutually beneficial relationship.
The European Union, while acknowledging China's benefits from open markets, voiced concerns about the imbalance in trade, with China purchasing insufficient goods from the EU. The EU leaders emphasized the need for fair competition and reciprocity in market access.
The summit was marked by a focus on relaunching commercial cooperation between the EU and China. The leaders' meeting with President Xi Jinping in the morning was followed by a discussion and dinner with Prime Minister Li Qiang in the afternoon, with trade issues at the forefront.
The EU leaders also highlighted the current trade situation between the EU and China as unsustainable and advocated for rebalancing. This stance was likely influenced by the looming August 1 deadline for a potential agreement on tariffs between Brussels and Washington.
In addition to trade, the EU and China reiterated their support for multilateralism during the summit. They underscored the importance of upholding a stable, predictable, and fair rules-based economic system, with the World Trade Organization (WTO) at its core. Both parties expressed the need for strategic partnership to navigate the changing global economic landscape, fragile supply chains, and unlevel playing fields.
The EU-China summit did not delve into specific negotiations concerning the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) or its potential role as the basis for a 'WTO 2.0'. However, the summit did stress the importance of deepening trade cooperation and maintaining global trade rules through multilateral institutions.
Tokyo, the EU's closest strategic partner in the Indo-Pacific region, was the venue for the 30th EU-Japan Summit, where Ursula von der Leyen, Antonio Costa, and Kaja Kallas were in attendance. The EU-Japan summit aimed to deepen cooperation in several areas, including security and defense, trade, economic security, and support for a rules-based international order and multilateralism.
One of the key topics at the EU-Japan Summit was addressing Russia's aggressive war against Kiev, with the EU reiterating the need to defend multilateralism during the summit. The EU and Japan also discussed the need to manage trade tensions, especially those related to US tariffs on steel, aluminum, and cars.
In summary, the 2023 EU-Japan Summit agenda was centered on strengthening their trade alliance via the Japan-EU Economic Partnership Agreement (EPA), supporting multilateral trade governance under the WTO, and aligning strategies to counter protectionism and economic coercion. The EU-China Summit, held subsequently, focused on relaunching commercial cooperation and maintaining a balanced and mutually beneficial relationship between the EU and China.
- The EU-China Summit, following the EU-Japan Summit, emphasized the need for a balanced and mutually beneficial relationship, with concerns raised about the imbalance in trade, specifically China's insufficient purchases from the EU.
- As the leaders of the EU and China discussed trade issues, they underlined the importance of fair competition and reciprocity in market access, and advocated for rebalancing the current unsustainable trade situation.
- Beyond trade, the EU and China also emphasized the need for strategic partnership to navigate the changing global economic landscape, which includes fragile supply chains and unlevel playing fields, while supporting multilateralism and a stable, predictable, and fair rules-based economic system.
