Will the EU finally get tough on China’s ‘existential’ trade threat? Doubtful
The European Union is debating potential tariffs against Chinese imports due to concerns over unfair trade practices. However, any action taken is expected to be minimal and delayed, leaving European industries vulnerable to China's subsidized goods. The EU's trade deficit with China is projected to surpass $400 billion this year, raising alarms about job losses in Europe.
- ▪The EU is considering tariffs against Chinese imports amid concerns of unfair trade practices.
- ▪China's trade practices are leading to a significant trade deficit for the EU, projected to exceed $400 billion this year.
- ▪Many EU member states are hesitant to take strong action against China due to fears of retaliation.
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The European Union is holding key discussions on Friday over whether to impose tariffs or other measures against Chinese imports. While symbolic action is likely, that action will likely be delayed and largely watered down. Assuming that is the case, European industries will remain victim to China’s endemic dumping of state-subsidized goods into their markets. The EU’s trade deficit with China is likely to exceed $400 billion this year, with an EU official telling reporters this week that China’s “existential” dumping threat meant 29 million EU-based jobs could be lost. Although the problem is particularly acute in terms of Chinese electric vehicle exports, it extends across numerous sectors. But the EU’s alarm is long overdue.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Washington Examiner.
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