A recent study has revealed that consumers and businesses across the European Union spend considerably more on goods imported from China. The findings indicate that EU entities purchase Chinese imports at a rate three times higher than what their Chinese counterparts buy from the EU bloc. This significant imbalance highlights a substantial difference in trade flows between the two major economic areas.
This trade disparity led to a daily deficit that exceeded one billion euros during July, according to customs data. The same data also reported this daily deficit was equivalent to 860 million British pounds. This substantial trade gap in July was noted just days before a scheduled summit involving Xi Jinping and Donald Trump.