EU leaders to tackle China exports, energy prices and budget at summit
SPY•EU leaders are discussing measures to address Chinese exports, high energy prices and divisions over the bloc’s 2028-2034 budget. The EU goods trade deficit with China reached €360 billion in 2025 and is on course to exceed that figure in 2026.
1. Trade with China
EU leaders began a summit focused on curbing rising Chinese exports, which industry groups blame for factory closures. Draft conclusions call for continued dialogue with Beijing, full use of EU trade-defence measures and additional trade tools. The bloc’s goods trade deficit with China reached €360 billion in 2025 and is expected to surpass that level this year.
2. Energy prices and permits
Several countries put high energy prices on the agenda, which draft conclusions describe as an issue of “critical importance.” Leaders are asking the European Commission for further short-term measures. Finland, Sweden and Denmark’s prime ministers defended the EU Emissions Trading System, warning that weakening it would hinder investment in clean industries.
3. Budget and Ukraine
EU leaders are also discussing the bloc’s 2028-2034 budget, which requires unanimous approval; a special summit is set for late November to seek agreement. Ukraine is on Friday’s agenda, with leaders likely to discuss its 2027 funding needs. Dutch Prime Minister Rob Jetten urged European leaders to provide more financial and military support.
