EU to examine tool for swift market restrictions amid China trade concerns
The Commission will assess a possible new tool to halt access to the EU market swiftly, following calls from France and Germany for a faster response to Chinese trade surpluses.
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The European Commission will examine whether it can create a trade instrument to halt access to the EU market “quickly and immediately”, its president Ursula von der Leyen said after a two-day summit of EU leaders in Brussels. The proposal follows a request from France and Germany for the bloc to respond faster to Chinese trade surpluses. [1]
Von der Leyen said any new tool would not replace the full use of existing trade measures. She also welcomed what she described as unity among EU leaders on protecting the European market. [1]
EU leaders want the new instrument while maintaining dialogue between Brussels and Beijing. The source reports that the EU’s trade deficit with China has risen to €1 billion a day this year. [1]
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