France, Germany Propose New Rapid EU Trade Response Tool
The proposal would let the European Commission curb distortions from subsidies and currency manipulation as EU trade pressure from China intensifies.
- On Monday, France and Germany sent a letter to Commission President Ursula von der Leyen proposing new tools to restrict access to the European single market and counter trade distortions from China.
- Brussels describes its economic relationship with Beijing as unsustainable, with the EU's trade deficit reaching an estimated €1 billion a day in 2025. The accompanying paper warns that "a massive industrial shock" is hitting sectors central to Europe.
- President Emmanuel Macron and Chancellor Friedrich Merz proposed a "comprehensive framework" to "reduce European dependencies, resolve existing supply chain concentration and prevent emerging concentration risks" while capturing all market distortions.
- Crucially, the instrument would be activated "unless a qualified majority is opposed," simplifying Commission action. The proposal also calls for an inventory of possible retaliatory measures and coordination among EU leaders.
- The issue is due to come before EU leaders at next week's European Council summit, where France and Germany will press for urgent action. China has been given until this month to offer concessions.
16 Articles
16 Articles
France and Germany have proposed that the European Union should strengthen itself with a new rapid action measure to react against countries that are economically damaging the bloc, in a new global scenario in which trade is increasingly used as a weapon. Read also: Release of diesel stocks by the G7 removes threats from Trump France announces that the EU will release 100 million barrels of diesel and crude oil German authorities said that the E…
France, Germany propose new rapid EU trade response tool
By Philip Blenkinsop and Andreas Rinke BRUSSELS/BERLIN, Oct 5 (Reuters) - France and Germany have proposed the European Union toughen itself up with a new rapid-action measure to strike back against countries that harm the bloc economically in a new w...
Faced with the threat from China and the United States, Emmanuel Macron and Friedrich Merz propose a new legal arsenal to respond immediately in case of unfair practices French President
The EU is trying to protect companies from unfair behaviour in other countries, such as China. How to do this? Chancellor Merz makes a proposal together with France.
volksfreund.de
The EU is trying to protect companies from unfair behaviour in other countries, such as China. How to do this? Chancellor Merz makes a proposal together with France.
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