EU's goods deficit with China hit €36.5 billion in July

The EU imported €3.10 in goods from China for every €1 it exported in July 2026, producing a €36.5 billion goods deficit, or €1.18 billion per day, up from €32.2 billion a year earlier. The January-July gap reached €234 billion, up about €21 billion year-on-year. I see the October Beijing trade meeting as the next test of that trajectory.