EU Economies Push for Stricter Trade Measures Against China
Four major EU economies are advocating for tougher trade policies to protect European industry amid rising Chinese exports. This initiative focuses on addressing unfair trade practices and aims to mitigate the loss of 1 million jobs in Europe between 2019 and 2025.
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Spain, France, Italy, and the Netherlands, along with Lithuania, have circulated a joint document ahead of a key European Commission meeting to address trade relations with China. They propose additional tariffs targeting companies to combat circumvention of regulations, as EU trade defense measures are at a 20-year high.
The document emphasizes activating the safeguards tool in response to sudden import surges and suggests a new resilience mechanism for suppliers concentrated beyond a certain threshold. Manufacturers in the EU face disruptions from China's restrictions on critical mineral supplies. France seeks robust measures, while Germany is debating its position given its significant exposure to China.
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