EU leaders will kick things off at 6 p.m. Thursday when they hear from European Parliament President Roberta Metsola and Ukrainian President Volodymyr Zelenskyy. Then, over dinner, leaders will discuss “global macroeconomic imbalances” — that’s a euphemism for the world’s overreliance on an increasingly hostile China.
They’ll reconvene on Friday to negotiate the thorny matter of the EU’s €2 trillion long-term budget, amid a revolt from the countries that contribute the most cash.
POLITICO will be covering events as they unfold on our live blog. As a primer, here’s what to keep an eye on …
Beef with Beijing
European Commission President Ursula von der Leyen and her chief of staff, Björn Seibert, are leading a push to get tougher on what they say are unfair Chinese trade practices amid fears that Europe’s industries will continue to lose ground to Beijing.
Von der Leyen wants political backing to investigate the alleged dumping of cheap products on the European market, making it difficult — if not impossible — for local producers to compete. In addition, Brussels is considering a so-called overcapacity instrument to counter state-subsidized firms producing vast quantities of goods in strategic sectors.
But, three EU diplomats and officials — granted anonymity to speak openly about the plans — said that nobody wants a trade war: The EU is China’s largest export market, worth $560 billion in 2025, and Europe still needs Chinese raw materials and components. Instead, it’s hoped that by showing the EU has tools it could use to target imports, Beijing will change the approach of its own accord.