00:01The European Union will seek to achieve tangible results through dialogue with China by October,
00:07the bloc's trade commissioner said on Monday after meeting his Chinese counterparts in Brussels.
00:13Tensions between Brussels and Beijing have ramped up over the past few weeks
00:17after China's repeated threats to retaliate against the EU's decision
00:21to protect its market from Chinese overcapacity.
00:25Today's discussions were intensive, focused and constructive.
00:31My objective from the outset has been clear,
00:35to begin balancing the trade relationship between the European Union and China.
00:41The gap is widening.
00:43The China's export to the EU keeps rising, while our market share in China keeps shrinking.
00:50The EU is facing a growing trade deficit with China,
00:53which has reached a record 1 billion euro a day.
00:57At the last summit in June, member states gave the European Commission a mandate to conduct a dialogue with Beijing
01:03to rebalance the trade relationship.
01:06And our teams have a clear mandate and an ambitious timetable to deliver tangible results by October this year.
01:16China is concerned about access to the EU market after the European Commission presented a bill in March favoring products
01:23made in Europe.
01:23But on the other hand, EU businesses are also finding it increasingly difficult to access the Chinese market.
01:29China is concerned about the EU's decision-making and the EU's decision-making and the EU's decision-making and the
01:33EU's decision-making and the EU's decision-making and the EU's decision-making and the EU's decision-making and the
01:33EU's decision-making and the EU's decision-making and the EU's decision-making and the EU's decision-making and the
01:33EU's decision-making and the EU's decision-making.
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