China surpasses US as EU’s No.1 trading partner; CAI to cement bilateral ties in 2021: analyst

China surpassed the US becoming the European Union’s largest trading partner in coronavirus-plagued 2020. With the EU-China Comprehensive Agreement on Investment (CAI) making progress while the future of transatlantic trade remains unclear, experts say bilateral ties between China and EU members will be further cemented this year. Latest data from the EU statistics agency Eurostat showed that the EU’s trade volume with China reached 586 billion euros ($711 billion) in 2020, compared to 555 billion euros for the US. The EU’s imports from China increased by 5.6 percent while exports to China went up 2.2 percent. At the … (full story)

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