EU Calls for 'More Robust' Response on China Trade Imbalance
The bloc plans faster safeguards, higher tariffs and investment screening as it seeks to curb a 360 billion euro trade deficit with China.
- On Friday, the European Commission discussed a tougher trade approach with China, stating the current relationship is "not sustainable" and requires a more robust response to protect critical industries.
- The European Union faces a significant trade imbalance, with goods deficits hitting 360 billion euros last year, prompting Brussels to defend against what Maros Sefcovic described as a new "China shock."
- Safeguards will likely target chemicals and machinery sectors, with Sefcovic aiming to ensure all 26 commissioners understand the severity of challenges compared to traditional anti-dumping probes.
- The European Union maintains its "overarching approach remains de-risking, not decoupling," aiming to reduce dependence while continuing trade; Commission President Ursula von der Leyen supports this robust strategy.
- Discussions will "feed into work in the coming weeks" before talks on trade imbalances at the heads of state meeting in France on Jun 15-17 and a meeting of European Union leaders in Brussels on Jun 18-19.
12 Articles
12 Articles
The president of the European Commission, Ursula von der Leyen, presided on Friday a “guidance debate” with her team of Commissioners focused on the measures she is considering in the coming weeks or months to counter what some Member States consider to be an “industrial overcapacity” of China that threatens the European market, competitiveness and jobs. Aware of the suspicion of Beijing and the strong division between the Twenty-Seven on the su…
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El Periódico
elcorreoweb.esThe European Union opens the door to changing its relationship with China. In a brief communiqué, the European Commission has warned this Friday that the current state of its trade and investment ties with the Asian giant "is not sustainable" and that the adoption of a "stronger and more coherent" response to this problem will be considered.
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