EU Weighs Stronger Powers to Restrict Chinese Imports
EU leaders want a year-end proposal for stronger trade powers as officials examine import safeguards for sectors including chemicals and machinery.
Key takeaways
- EU leaders asked the Commission to prepare a trade-measures proposal by year-end.
- Officials are examining possible safeguards for chemicals and machinery imports.
EU leaders have asked the European Commission to prepare a proposal by year-end for new powers to restrict Chinese goods’ access to the single market, including a full block in exceptional cases, according to Bloomberg HT. The move is aimed at reducing the EU’s trade deficit with China.
The Commission is reviewing trade data to assess possible safeguards in sectors where shipments are rising quickly. Chemicals and machinery are among the areas under consideration, with measures potentially modeled on a quota agreement for hybrid vehicle imports.
China has said it would retaliate if new restrictions target Chinese companies or products beyond that agreement. Chinese customs data showed the EU’s trade deficit with China reached a record $34.8 billion in September, while China’s total exports rose 36% year over year.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
