EU Leaders Back Stronger Trade Defences Amid Chinese Export Surge
The bloc wants new tools to counter a 360 billion euro trade deficit while keeping talks open with Beijing, officials said.
- On Thursday, European Union leaders gathered in Brussels to strengthen trade defenses against China while pursuing 'constructive dialogue' with Beijing, seeking to balance protecting European industry with avoiding escalation.
- Growing consensus suggests the 27-nation bloc is too dependent on China, with a trade deficit exceeding $1.2 billion daily. Belgian Prime Minister Bart De Wever said 'subsidies given in China' are not honest.
- Danish Prime Minister Mette Frederiksen warned of a 'clear struggle in terms of trade and technology,' while German Chancellor Friedrich Merz signaled concern regarding the 'global competitive environment.'
- Leaders tasked the European Commission to 'develop and eventually complement' trade defense tools. Separately, European Commission representative Sefcovic invited Chinese Commerce Minister Wang Wentao to Brussels later this month for potential dialogue.
- Despite hardening resolve to protect European industry, leaders hope to avoid a damaging trade war, cognizant that the bloc remains reliant on Beijing for critical supplies like rare-earth minerals.
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Now that Germany is also making the shift, the European Union is moving towards a tougher course against Chinese exports. The fear of Chinese competition is winning out over the fear of Chinese retaliation.
The Twenty-seven focus on a pragmatic approach combining negotiations and protective measures to protect the single market and reduce economic dependence from Beijing.
EU leaders have given the European Commission a mandate to examine where it can protect its own trade against unfair trade, for example from China. If necessary, a new trade instrument may be created for this purpose, the leaders agreed during the night from Thursday to Friday. The multiannual budget is also being discussed at the summit.
EU leaders back stronger trade defences amid Chinese export surge
EU leaders agreed on Thursday to strengthen trade defences against a Chinese exports surge that Brussels views as a threat to European industry, while maintaining “constructive dialogue” with Beijing. The move reflects growing concern over the EU’s dependence on China, as the bloc’s goods trade deficit reached about 360 billion euros last year.
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