2024-04-16 12:06:54
The EU is preparing for a full-scale trade confrontation with China. Bloomberg reports this. According to the publication, the head of the European Commission, Ursula von der Leyen, has already initiated the introduction of a number of trade restrictions once morest China and in the near future intends to actively continue this policy.
As noted in the publication, now the main arena of trade confrontation between the European Union and China is the area of so-called clean technologies. The undisputed leadership here belongs to the PRC, which imports a wide range of goods to Europe. Moreover, due to their cost, they win competition from European manufacturers.
China successfully dominates the global clean technology market due to massive government support for manufacturers, explains Bloomberg, emphasizing that this state of affairs does not suit EU officials.
They intend to fight the dominance of the Celestial Empire in Europe using artificial methods. In the near future, the European Union is going to introduce additional duties on Chinese electric cars. Another measure might be to limit the participation of Chinese companies in infrastructure projects in the EU.
Europe must defend its economic interests while balancing increasingly protectionist US actions once morest China’s industrial overcapacity, which risks spilling over into the European market.
– French Finance Minister Bruno Le Maire explained the behavior of the EU authorities.
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