The EU has stepped up measures to address imbalances with China and agreed on corrective measures, including the introduction of HEV safeguards. It is reportedly accelerating legislation to address macroeconomic imbalances, potentially forcing Japanese companies to restructure their supply chains.
The EU has agreed on measures to correct trade imbalances with China, including the introduction of HEV safeguards. European Commission President Ursula von der Leyen said the trade deficit with China reached €1 billion per day and expressed a policy of seeking to restore balance to the relationship.
The structure of the EU's imports from China has changed significantly, with the share of industrial machinery, automobiles, batteries and other products increasing since 1991. In the 2020s, the EU's trade deficit expanded, and the composition of major imported products also changed.
Against the backdrop of changes in the structure of imports from China and the impact of the Chinese market, measures to address trade imbalances with China are considered an urgent priority. Analysis indicates that the trend of rising imports from China and declining exports to China is continuing.
This trend is seen as a factor forcing Japanese companies to restructure their supply chains, and views have been reported that Japanese companies are moving to revise their strategies.