EU trade ministers discussed on Oct. 23 extending negotiations with China beyond automobiles to sectors such as chemicals and machinery, following an understanding on Chinese hybrid-vehicle exports. The EU's goods trade deficit with China reached 359.8 billion euros ($402.7 billion) in 2025, as imports from China rose 6.4 percent and exports to China fell 6.5 percent. The understanding sets an annual quota of 350,000 Chinese hybrids, which von der Leyen said would cut exports by about 45 percent, though China's Commerce Ministry noted the EU imported 302,000 Chinese hybrids in 2025 and said the quota would allow exports above that level. Greek Deputy Foreign Minister Haris Theoharis warned that negotiating one sector at a time would be far too slow to reduce the imbalance, while the Commission would propose a new instrument to restrict market access more quickly.
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- Europe seeks to further restrict imports from China
European Commission President Ursula von der Leyen said the EU will propose further measures to curb imports from China, on top of an agreement to halve hybrid vehicle shipments to Europe, to reduce a goods trade deficit of more than 1 billion euros (US$1.12 billion) a day. EU leaders backed the move, and French President Emmanuel Macron said the bloc should focus on chemicals, plastics and ferrous alloys. The Commission plans to propose a new tool in December that would allow restricting access to the single market, along with a solidarity mechanism to support countries or industries facing unfair treatment or retaliation. Last year the goods trade deficit with China was 360 billion euros (US$410 billion), while total trade including services reached 880 billion euros (nearly US$1,000 billion).
- China's exports and imports surge past expectations in September
China's exports rose 36.3% year-on-year in September, their fastest pace since February, while imports climbed 31%, the fastest since June, according to official data released Wednesday. Both beat Reuters poll estimates of 25.5% for exports and 24.5% for imports. Exports to the U.S. grew nearly 39.6%, sending the monthly trade surplus to its highest since January 2025, and the $133.5 billion surplus was a record monthly high. Strong demand for China-made parts for AI data centers and easing tensions with the U.S. helped fuel exports, with integrated circuit board export value up 136% even as units rose only 1%. Car exports surged 56.3% to 1.18 million vehicles, while crude oil import volumes fell for a sixth straight month.
- Eurozone Trade Balance Swings To Deficit
Eurostat data showed the euro area posted a trade deficit of EUR 16.1 billion in August, compared with a surplus of EUR 10.7 billion in July and a deficit of EUR 1.7 billion a year earlier. The swing was driven mainly by a sharp acceleration in imports, which rose 16.7% from a year earlier after 9.1% in July. Exports of goods also grew, up 9.9% year over year, though this was still slower than the import increase.
- Developments in Real Exports and Real Imports
The Bank of Japan's Research and Statistics Department compiles real export and import data, excluding price effects, with exports broken down by region and goods. Starting with April 2026 data, the figures will in principle be released at 4:00 p.m., one business day after the Ministry of Finance publishes its provisional trade statistics. The release schedule may change, and the data may be revised due to changes in statistical sources, base years or annual revisions.
- Economic security and EU - China trade relations
Jens Eskelund, president of the EU Chamber of Commerce in China, says more European companies are onshoring activity into China or sourcing components from Chinese vendors, with 56% of members increasing this. He attributes the trend to saturated Chinese markets, falling margins, overcapacity and 44 consecutive months of producer price deflation through April, which make Chinese supply chains essential for competing globally. He argues trade balances matter less than economic security and autonomy, citing dependence on rare earths, magnets and Starlink, with a €400 billion deficit for 2026 cited as a hypothetical example. On electric vehicles, he calls the initial deal for China to halve its hybrid car exports to Europe a positive, pragmatic step with minimal impact on overall trade.
- European auto sales rise 10% in Sept; EVs, hybrids lead
Total car registrations across the eurozone, the European free trade area and the UK rose 10.2% year-on-year to 1.36 million units in September, according to the European Automobile Manufacturers' Association. Battery electric vehicle sales surged nearly 60%, plug-in hybrids rose 24% and hybrids 5.3%, while petrol sales fell 20.6% and diesel dropped 28%. As of end-September, hybrids held the largest EU market share at 36.3%, followed by battery electric at 22.7% and petrol at 21.2%, helped by Chinese brands such as BYD, SAIC, Leapmotor and Chery. BYD's registrations soared 98.4% to 49,953 units and Tesla rebounded 72.5% to 68,776 units, while Stellantis rose 4.5% and Toyota Group gained 1.7%.
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