23 October 2026 14:54 UTC · European Commission · EU Commission Press Release · Read original source ↗ · Email X Link

Maroš Šefčovič Details Trade Relations at Dublin Press Conference

Key points

Maroš Šefčovič states that EU-US trade engagement remains essential and stable.
Maroš Šefčovič notes that the trade deficit with China reached nearly 197 billion euros in the first half of the year.

TL;DR

Maroš Šefčovič reports that EU exports to the United States grew by 3.5% in 2025 to reach 555 billion euros.

Original text

European Commission - Speech [Check Against Delivery] Remarks by Commissioner Šefčovič at the press conference following the informal Foreign Affairs Council (Trade) Dublin, 23 October 2026 Good afternoon and thank you, Minister – dear Helen – for your hospitality. I always leave Dublin impressed by its positive energy and this time, also grateful for the exchanges around the table. A few words on all three topics. Starting with EU-US trade relations: Engagement between the EU and the US remains essential. It is what has stabilised our trade relationship. And it is working. In 2025, EU exports to the US grew 3.5% – to 555 billion euros – and in recent months, they have been running above the 2024 monthly average. The EU is delivering on the EU-US Joint Statement, notably on tariff reductions; on energy purchases and investments even beyond target; and on simplification measures that also benefit US businesses. We must protect these gains, while addressing outstanding issues like metals and derivatives, and cooperating on shared interests such as critical minerals. I stressed this to USTR, Ambassador Greer most recently in Milwaukee. Turning to China: We now have a clear mandate from the European Council. The context remains plain. Our deficit with China reached almost 197 billion euros in the first half of this year. At this rate, we could break the 2022 record of 397 billion euros. Rebalancing is therefore our central workstream and the next steps are already underway: A safeguard on hybrids and plug-in hybrids to be initiated soon; Identification of further priority sectors, guided by the Import Barometer, which tracks sustained import surges harming EU industry; Continued engagement, with my team meeting our Chinese counterparts next month. Meanwhile, we keep working towards reducing overdependencies in strategic sectors and the risk of their weaponisation. In December, we will table the DiversifyEU package and propose ways to make our trade defence tools more effective, including by adding new instruments to the toolbox. Last but not least, our free trade negotiations: We keep pressing ahead and our existing agreements make a compelling case. In 2025, EU goods exports to our preferential partners grew 3.3%, against 0.6% with non-FTA partners. And EU agri-food exports to preferential partners grew 4.6%, offsetting a 3.6% decline with non-FTA partners. So, once again, thank you, Minister, for organising these timely exchanges. And I am happy to take a few questions. SPEECH/26/2252 <@rel_link@>

Maroš Šefčovič Details Trade Relations at Dublin Press Conference

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