According to the “South China Morning Post” on October 14, the leaders of the 27 EU member states will ask EU institutions to “urgently” develop new trade countermeasures to deal with what they believe is an imbalance caused by China's economic policies at a meeting to be held in Brussels, the capital of Belgium. The instructions are part of a draft statement being negotiated before this week's European Council summit. Earlier, the EU and China unexpectedly reached an agreement in Beijing last week to limit the number of hybrid vehicles that China exports to the EU to less than 350,000 each year. Although the agreement mitigates the imminent threat of a trade war, Brussels officials and diplomats made it clear on Wednesday that this is far from enough. The EU intends to continue to put pressure on China to restrict exports from other industries. A senior diplomat who asked for anonymity said, “It won't be summer, but this is the first result we have achieved, and it is also the beginning of a process that pushes China to restrict exports.” Since the EU wants to avoid a head-on conflict with the world's second-largest economy, the draft statement does not directly name China, but uses language often used by the EU to describe the so-called damage caused by China's strong industrial power to the European economy.
Zhitongcaijing · 2d ago
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According to the “South China Morning Post” on October 14, the leaders of the 27 EU member states will ask EU institutions to “urgently” develop new trade countermeasures to deal with what they believe is an imbalance caused by China's economic policies at a meeting to be held in Brussels, the capital of Belgium. The instructions are part of a draft statement being negotiated before this week's European Council summit. Earlier, the EU and China unexpectedly reached an agreement in Beijing last week to limit the number of hybrid vehicles that China exports to the EU to less than 350,000 each year. Although the agreement mitigates the imminent threat of a trade war, Brussels officials and diplomats made it clear on Wednesday that this is far from enough. The EU intends to continue to put pressure on China to restrict exports from other industries. A senior diplomat who asked for anonymity said, “It won't be summer, but this is the first result we have achieved, and it is also the beginning of a process that pushes China to restrict exports.” Since the EU wants to avoid a head-on conflict with the world's second-largest economy, the draft statement does not directly name China, but uses language often used by the EU to describe the so-called damage caused by China's strong industrial power to the European economy.
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