EU Leaders Urge Stronger Tools to Counter China Trade Imbalance

EU leaders are urging the European Commission to develop stronger tools to counter what they view as unfair trade practices and a growing trade imbalance with China. The proposed measures could include rapidly restricting access to the EU single market in extreme cases, as well as expanding import safeguards beyond the existing agreement limiting Chinese hybrid-vehicle exports. The Commission is examining trade data and considering restrictions in sectors such as chemicals, machinery, plastics and ferroalloys, while also planning proposals to reduce dependence on single suppliers and support countries or industries facing economic coercion. These are proposals and reviews, not a blanket ban currently in force.