The EU must rebalance its trade relationship with China, said European Commission Vice President Stephane Sejourne, reports the Taipei Times.

The EU's goods trade deficit with China reached EUR360 billion (US$417.74 billion) last year, prompting calls to address the imbalance. Mr. Sejourne stated that openness to trade remained a priority but stressed the need for rebalancing given the scale of the deficit.

The EU executive team is set to hold a special debate on how the 27-nation bloc should approach China to level the playing field. A visit by Chinese Minister of Commerce Wang Wentao to Brussels late next month is also under discussion, according to an EU official.

Following the debate, European leaders are expected to discuss trade ties with China during a summit in Brussels on June 18 and 19. EU trade ministers meeting last week acknowledged that while the relationship is important, it requires more balance.

Irish Minister for Foreign Affairs, Trade and Defense Helen McEntee remarked that China is an important trading partner, but greater balance is needed. She highlighted the risks linked to rare earth minerals and their impact on Europe's economy.

Polish Minister of Economic Development and Technology Michal Baranowski noted that Europe faces a race to reduce dependencies while building sovereignty and independence in critical sectors.

Trade frictions between China and the EU have grown in recent months, especially after Beijing imposed export curbs on rare earths last year. The restrictions underscored Europe's reliance on Chinese supply.

Brussels has taken steps to protect its market from what it calls unfair Chinese competition, including imposing extra levies on small parcels from China.