Economist: European Union is preparing for a trade war with China
The European Union is preparing for a large-scale trade war with China over duties on electric cars and may apply a punitive mechanism of international public procurement, the Economist magazine writes.
In early July, the European Commission imposed increased duties on imports of Chinese electric cars. Beijing later said it planned to file a complaint against the EU at the WTO and impose its own retaliatory measures.
“Europe is preparing for a big trade war. <…> Further conflicts (with Beijing. – Editor’s note) are possible, during which the EU will use new types of (trade. – Editor’s note) weapons,” the publication said.
Among the possible measures of the EU journalists named the use of an international procurement mechanism. If China refuses to fulfil Brussels’ requirements, the EU has the right to limit the access of Chinese companies to public tenders in Europe.
According to Economist journalists, another opponent of European officials may become Donald Trump in the case of re-election as President of the United States. In Brussels, ten per cent duties on all imports, which the US candidate has promised to impose, will not go unanswered, they added.
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