French Finance Minister Eric Lombard said Europe must strengthen tariff barriers to counter the potential impact of Chinese imports on local industries and economies.
According to Bloomberg, Lombard said at an economic conference in France on Saturday (July 5) local time, "In today's world, we must protect our industry." He also said: "We must take action in all industrial sectors, otherwise China's policy of occupying more than 50% of global market capacity in every industry will stifle our industry."
Lombard said the EU has already taken measures regarding the steel and automotive industries but still needs to adjust regulations to further expand the scope of Chinese imports covered by these measures.
The report pointed out that Paris is worried that US President Trump’s push to reshape the global trade landscape, in addition to the potential tariffs on European exports, will bring multiple shocks. Lombard's above remarks highlight that this concern is becoming increasingly acute.
China’s Ministry of Commerce announced on Friday (the 4th) that starting Saturday (the 5th), it will impose anti-dumping duties of up to 34.9% on brandy imported from the EU, effective for five years, but as long as the minimum import price commitment is fulfilled, the anti-dumping duties can be exempted. Since last year, the EU has imposed tariffs of up to 45% on China-made electric vehicles.
In addition, the originally scheduled two-day China-EU Leaders’ Summit to be held in Beijing in late July may reportedly be shortened, highlighting the uncertainty in China-EU relations.
French Minister for Industry Marc Ferracci also called at the event for Europe to strengthen its defense against Chinese imports.
Ferracci said another issue of concern is that Chinese goods originally destined for the United States are now being dumped in Europe; “Overcapacity is occurring in many industries in China, which makes our industries vulnerable to shocks and brings great risk.”
According to Bloomberg, Lombard said at an economic conference in France on Saturday (July 5) local time, "In today's world, we must protect our industry." He also said: "We must take action in all industrial sectors, otherwise China's policy of occupying more than 50% of global market capacity in every industry will stifle our industry."
Lombard said the EU has already taken measures regarding the steel and automotive industries but still needs to adjust regulations to further expand the scope of Chinese imports covered by these measures.
The report pointed out that Paris is worried that US President Trump’s push to reshape the global trade landscape, in addition to the potential tariffs on European exports, will bring multiple shocks. Lombard's above remarks highlight that this concern is becoming increasingly acute.
China’s Ministry of Commerce announced on Friday (the 4th) that starting Saturday (the 5th), it will impose anti-dumping duties of up to 34.9% on brandy imported from the EU, effective for five years, but as long as the minimum import price commitment is fulfilled, the anti-dumping duties can be exempted. Since last year, the EU has imposed tariffs of up to 45% on China-made electric vehicles.
In addition, the originally scheduled two-day China-EU Leaders’ Summit to be held in Beijing in late July may reportedly be shortened, highlighting the uncertainty in China-EU relations.
French Minister for Industry Marc Ferracci also called at the event for Europe to strengthen its defense against Chinese imports.
Ferracci said another issue of concern is that Chinese goods originally destined for the United States are now being dumped in Europe; “Overcapacity is occurring in many industries in China, which makes our industries vulnerable to shocks and brings great risk.”