EU Leaders Back Potential Trade “Kill Switch” Amid Record China Deficit
EU leaders support developing a trade tool that could restrict Chinese goods as low-cost imports drive the bilateral trade deficit to a record.
EU leaders have backed creating a tool that could potentially shut out Chinese goods, after a growing flood of low-cost imports pushed the bilateral trade deficit to a record.
European Commission President Ursula von der Leyen signalled at a Brussels meeting on Thursday that officials could start work on developing the trade “kill switch”.
The support came as the growing flow of low-cost imports was linked to the record bilateral trade deficit described in the report.
The South China Morning Post reported the development, citing unidentified people briefed on the talks.
Leaders requested a proposal by year-end, Bloomberg News said, providing a stated timeline for the next step in the discussion.
Source: South China Morning Post
Frequently asked questions
What trade tool have EU leaders backed?
They backed creating a potential trade “kill switch” that could shut out Chinese goods.
Why was the trade tool proposed?
A growing flood of low-cost Chinese imports was linked to a record bilateral trade deficit.
Who signalled that work on the tool could begin?
European Commission President Ursula von der Leyen signalled that officials could start developing it.
When did leaders request a proposal?
Leaders requested a proposal by year-end.
You may also like
International
EU to intensify China trade crackdown after hybrid car deal
International
Chinese Chery SUV becomes Britain’s bestselling car, fuelling Europe’s China dilemma
International
Thailand Gains Edge Over Vietnam as Chinese Firms Expand Overseas
International
Beijing Approves Japanese Business Delegation Expansion From Five To Around 20
Most read
- 1
Air China Adds Extra Flight for Passengers Stranded in Fuel-Starved Cuba
- 2
Western disturbance to bring rain, hail and strong winds across north India
- 3
Yogi Adityanath Directs No Occupied Houses Be Demolished for Achhalda Bridge
- 4
Gwalior Temple Truck Crash Kills 12, Injures 28-29 Devotees During Navratri
- 5
Heavy Rain Waterlogs Bengaluru, Snarls Traffic; Ride-Hailing Fares Surge
Comments
No comments yet. Be the first to comment.