⚡️🇪🇺🇨🇳 — EU Leaders Meet in Brussels to Address Chinese Exports, Energy Prices, and Budget Disputes, According to Reuters.

➡️ EU leaders from all 27 member states are convening to discuss rising Chinese imports, high energy costs, economic competitiveness, and disagreements over the next seven-year budget.

➡️ Focus is on the EU’s growing trade deficit with China, which hit €360 billion ($400.4 billion) in 2025 and is expected to rise further. This follows a recent European Commission agreement with China to limit imports of Chinese hybrid cars, seen as a first step toward balancing trade.

➡️ Draft conclusions call for continued dialogue with Beijing, increased use of trade-defense measures, and new instruments to protect European industries in sectors like chemicals, steel, machinery, and plastic packaging. France and Germany propose urgent measures on chemical and PET imports and faster retaliation against harmful trade practices. An investigation into PET imports is imminent.

➡️ Discussions reflect industrial concerns over factory closures and job losses, with a senior EU diplomat warning that thousands of jobs are lost monthly. China argues these concerns are being used to justify protectionism.

➡️ High energy prices are deemed of “critical importance.” Leaders may consider delaying methane emissions rules for oil and gas imports by one year and request further short-term measures from the European Commission.

➡️ The 2028–2034 budget requires unanimous approval and has exposed divisions between net contributors and recipients. A special summit is scheduled for late November to resolve this.

➡️ Ukraine will be discussed Friday, with President Volodymyr Zelenskyy expected to attend. Leaders will address Ukraine’s 2027 funding needs and express regret over the US decision to temporarily lift sanctions on Russian diesel.

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