EU Leaders Weigh New Trade Defences to Counter China's Export Dominance
EU leaders are considering new tools, including sector-specific tariffs, as the bloc’s goods trade deficit with China reached about €360 billion last year.
- On Thursday, European Union leaders met in Brussels to address a €360 billion trade deficit with China, instructing the European Commission to develop new trade defense tools.
- Brussels officials argue that fair competition requires a level playing field, citing evidence that Chinese firms received significantly more government support than Organisation for Economic Co-operation and Development counterparts between 2005 and 2024.
- French President Emmanuel Macron last month proposed a "European equivalent of Section 301," while a German official told AFP that Berlin is "open" to new tools if "not targeted at specific recipients."
- Seeking a "rebalancing" of trade, European trade chief Maros Sefcovic invited Chinese Commerce Minister Wang Wentao to Brussels later this month to pursue diplomatic dialogue.
- To diversify supply chains, European Commission President Ursula von der Leyen touted the India-Middle East-Europe Economic Corridor, telling G7 leaders, "Alternative export routes have been created that are more resilient and offer choices.
10 Articles
10 Articles
EU leaders ask Brussels to come up with new trade weapons to counter China shock
European Union national leaders have asked Brussels to come up with new trade instruments to deal with the economic threat posed by China, following a rare summit debate about Beijing late on Thursday night. After a two-hour discussion, the EU’s executive branch was told to engage with China to try to fix the persistent trade problems, according to a Brussels official. But it was also instructed “to develop and eventually complement the toolbox …
The European Union’s growing trade deficit with China has ceased to be an economic concern to become a strategic problem. More and more Member States consider a relationship marked by record imbalances, critical dependencies and Beijing’s support for Russia in the Ukraine war to be unsustainable. Faced with this situation, following a strategic debate at a summit in Brussels, EU leaders have called on the Commission to “develop and ultimately co…
At the summit, EU leaders discussed joint ways to address the trade deficit with China.
Spanish Prime Minister Pedro Sánchez views China as a "potential ally," he said ahead of an EU summit in Brussels. Among other things, how to deal with the economic heavyweight will be discussed there on Thursday evening, now that the trade deficit with China is steadily increasing.
How does the EU protect itself from Chinese trade dominance?
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