EU leaders are asking the European Commission to impose tougher economic measures against China — Politico
Leaders of European Union member states have called on the European Commission to take decisive economic measures against China in response to significant imbalances in bilateral trade.
During a summit in Brussels, European officials expressed serious concern over Beijing’s aggressive subsidy policies, which are harming the bloc’s internal market.
The participants called for the development of new trade defense instruments to effectively mitigate economic risks.
A wide-ranging discussion of trade policy toward China took place behind closed doors during an official dinner for EU leaders.
According to sources briefed by journalists, there is a growing consensus in Brussels on the need to strengthen internal instruments to protect European markets from the expansion of cheap Chinese goods.
European leaders have tasked relevant Commission experts with conducting a detailed audit of existing trade defense instruments and developing a strategic action plan.
Representatives of European governments emphasize that the current situation requires immediate intervention by regulatory authorities to level the playing field.
“Everyone agrees that we need measures to reduce our dependence. And the subsidies provided in China are unfair. We need a response to this. The Commission intends to propose measures, and we will continue to discuss this,” Belgian Prime Minister Bart De Wever said in a comment to the publication, calling it an “urgent” matter.
European Commission President Ursula von der Leyen sought to gauge from EU leaders how willing they are to tolerate retaliatory Chinese sanctions.
She warned her colleagues that any radical protective measures taken by Brussels would inevitably provoke a similarly harsh response from the communist leadership in Beijing.
European businesses must be prepared in advance for potential restrictions on access to China’s domestic market and possible logistical or customs difficulties.
This was reported by Politico.
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