Paris and Berlin want to come up with a joint "roadmap" by September to tackle China's unfair trade practices, French President Emmanuel Macron said Friday alongside German Chancellor Friedrich Merz. Speaking at a press conference near Cologne following intergovernmental meetings, President Macron emphasized that the European economy is currently being significantly impacted by these practices.
Paris and Berlin want "to have a Franco-German roadmap on this issue by September", he said, adding that their economy, finance and foreign ministers had been tasked with formulating the plan. A key component of this effort involves pushing the European Commission to accelerate market investigations and utilize stronger instruments to safeguard European industries. Macron highlighted that "We want to protect our companies and our industries. We've seen it in chemicals, we see it in machine tools, in the automotive sector and in many others," he said.
Chancellor Merz noted that the European Union's trade deficit with China has seen a sharp increase in recent years, reaching approximately 360 billion euros in 2025. He stressed that this imbalance, which results from the EU importing significantly more than it exports to the Asian nation, must be addressed to protect European industrial interests. Both leaders acknowledged the historical difficulty the 27-country bloc has faced in forming a unified stance, noting that while France has long advocated for a firm approach, Germany has traditionally maintained a more cautious position due to its extensive business investments in China.
Regarding allegations that China’s yuan currency is undervalued, Macron called for increased dialogue with Beijing concerning financial market access and exchange rates. Chancellor Merz added that if the Chinese currency is currently valued correctly, there should be no obstacle to allowing it to be freely convertible for trading purposes.
