The European Commission will propose import restrictions on China that go beyond the safeguards agreed with Beijing (including an agreement to halve supplies of Chinese hybrid vehicles). European Commission President Ursula von der Leyen said this on Friday, UNN reports, citing Reuters.
Details
At a press conference following the EU summit, von der Leyen said that the agreement reached with China would not resolve the structural imbalance. The EU's trade deficit with China in goods currently exceeds €1 billion ($1.12 billion) per day.
"That is precisely why we must act," she said. "Our industrial sectors have called for decisive action; we have heard them and will respond, including by introducing additional safeguards."
According to her, EU leaders expressed clear support for this approach.
China has agreed to limit car exports to the EU to avoid a large-scale trade war11.10.26, 20:20
French President Emmanuel Macron told reporters after the summit that the EU should focus on measures concerning chemicals, plastics and ferroalloys.
Von der Leyen welcomed the Franco-German document published last month, which proposes strengthening the European Union's economy by introducing a new rapid-response mechanism to counter countries that harm the EU.
She said that the European Commission would develop a new instrument to swiftly restrict access to the EU single market when this is in the bloc's interests.
She also said that in December the European Commission would present a proposal for a new instrument designed to reduce EU companies' dependence on single sources of supply for certain critical goods.
In addition, the Commission will propose creating a "solidarity mechanism" to support countries or economic sectors that face coercion or retaliatory measures from states outside the EU.