European officials are preparing for high-level talks with China to address concerns over Beijing’s currency policies, which are seen as a threat to the EU’s struggling industries. Following recent negotiations that capped China’s hybrid car exports, a delegation led by EU economy director general Maarten Verwey will travel to Beijing the week of November 23 for a "macroeconomic dialogue."
The discussions aim to persuade China to stop artificially depressing its currency, a practice that European officials believe undermines the bloc’s industrial competitiveness. The talks will involve top finance and banking officials from both sides, marking a critical step in addressing trade tensions.
Additional plans are underway for a follow-up visit by a high-level trio from the European Central Bank, Eurogroup, and European Commission around the turn of the year, though no specific date has been finalized. The upcoming meetings reflect growing fears of a new trade shock as the EU seeks to protect its economic interests.