Von der Leyen Says EU-China Goods Deficit Hits 1 Billion Euros a Day

On September 16, 2026, European Commission President Ursula von der Leyen delivered her State of the Union address to the European Parliament.

Speaking about China, she said the European Union's goods trade deficit with China has reached 1 billion euros a day. She said the EU will use all available tools to rebalance its economic and trade relationship with China.

In the same speech, von der Leyen said Europe remains highly dependent on China for rare earths and other critical raw materials. The EU is preparing to establish a new body, named the European Critical Raw Materials Company, to help Europe obtain the resources it needs and build strategic reserves.