Chinese chemicals and machinery in EU crosshairs as leaders back more trade curbs
Chemicals and industrial machinery were identified as the top priority industries the EU needs to shield against Chinese imports during a meeting between the EU’s top leaders in Brussels on Thursday. European Commission President Ursula von der Leyen told the bloc’s 27 member states that the EU should consider quickly introducing safeguard measures, which can involve import quotas and tariffs, to…
EU leaders emphasized the need to protect critical industries from Chinese imports during a recent summit in Brussels, with chemicals and industrial machinery identified as key sectors of concern. Commission President Ursula von der Leyen proposed swiftly implementing protective measures, such as import quotas and tariffs, to shield these industries from cheaper Chinese alternatives.
The idea gained support from influential member states such as France, Germany, Belgium, and Denmark, as well as the wind turbine industry. The EU is currently evaluating these sectors using a monitoring mechanism to identify import surges. In addition to the EU's proposed 350,000 annual cap on Chinese hybrid cars from 2027, the bloc plans to initiate safeguard investigations in chemicals, pharmaceuticals, and machinery industries in the coming weeks.
This proactive approach, which combines negotiations with Beijing and strengthening trade defenses, has garnered "unanimous support" from member states, despite the potential for heightened tensions following their recent agreement in Beijing.
Written by urgent.news from Reuters Business via SCMP's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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