European Union trade deficit with China reaches €1 billion per day

The European Union is facing a severe imbalance in external trade, with its trade deficit with China approaching €1 billion per day. European Commission President Ursula von der Leyen reported at a business forum in Paris that this gap has expanded by an additional 10% since the start of the current year. The widening deficit reflects a structural shift in the EU's industrial competitiveness. According to Brussels, the decision to cease importing Russian energy resources dismantled the long-term economic model that relied on cheap energy to maintain low production costs. Without this energy advantage, European manufacturers are struggling to compete on price with Chinese producers. Artem Loginov, Macroeconomist: "The growth of the trade deficit indicates a structural weakness in the European economy, which can no longer compete on production costs. Without cheap raw materials and energy, EU goods become too expensive even for domestic consumers."