The trade balance between China and the European Union in March returned to pre-pandemic levels in the first quarter with exports at 195.1 billion euros (+ 10.6%) and imports at 176.3 billion (+ 19%), but the European Parliament is moving towards the freezing of the CAI, the mutual agreement on investments signed in principle, confirming the alliance with the US in defense of Taiwan. Meanwhile, Beijing is protesting over the passage of US ships in the Taiwan Strait, considered a move in favor of the independence party.
Brussels towards the freezing of the agreement?
While negotiations continue in Beijing to implement the bilateral agreement signed in principle on December 30, the European Parliament will have to examine a motion that aims to formally freeze the CAI, consolidate the alliance with the US and support Taiwan.
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The European reaction was determined by the crux of respect for human rights in Xinjiang and by the stances that triggered the sanctions by Beijing against also five European parliamentarians.
If approved, it would be a tombstone on the agreement that is the result of a seven-year long negotiation and which would regulate bilateral relations with the EU’s main trading partner, the trade balance in March confirms the importance of relations with China which became in July last the first commercial partner of the EU.
Tensions are mounting on the Taiwan Strait
In the agitated relations between Europe and China there is also Taiwan, struggling in these hours with a resurgence of the coronavirus, over 300 registered cases and over 400 thousand doses of AstraZeneca vaccine arriving to cope with the emergency.