EU leaders to tackle China exports, energy prices, budget at summit
SPY•EU leaders are set to discuss China trade, high energy prices and the bloc’s 2028-2034 budget at a summit in Brussels. The EU goods trade deficit with China reached €360 billion in 2025 and is on course to surpass that level in 2026.
1. China trade measures
EU leaders are expected to ask the European Commission to continue dialogue with Beijing, use existing trade-defence measures and develop additional tools to protect the bloc. The EU recently secured an agreement with China to limit imports of hybrid cars, while the broader trade imbalance across sectors including chemicals, steel and machinery remains unresolved.
2. Energy and budget
The summit’s draft conclusions describe high energy prices as an issue of “critical importance” and ask the Commission to propose further short-term measures. Leaders will also discuss the 2028-2034 EU budget, which requires unanimous approval; a special summit is set for late November to seek agreement.
3. Other summit topics
Franco-German proposals calling for measures to address imports of chemicals and PET are likely to feature in discussions, and an investigation into PET is expected to begin soon. Ukraine is due to be a main topic on Friday, including its funding needs for 2027.
