Credit: AFP/KENZO TRIBOUILLARD
Representatives of the European Parliament and the governments of the member states have agreed on this.
For example, punitive tariffs should be possible against third countries that “try to intervene illegally in the political decisions of the EU or the EU member states with economic measures”. Access to direct investments or the award of public contracts from the EU could also be restricted as possible sanctions, the EU Commission also mentioned restrictions on trade in services.
This is justified by the fact that the EU and its member states have become the target of deliberate economic pressure in recent years. For example, China imposed trade restrictions on Lithuania that, from a European perspective, were incompatible with World Trade Organization rules. The reason is believed to be that Lithuania has expanded its diplomatic relations with Taiwan.
Before the new instrument of coercive measures can be used, the Council of Member States and Parliament still have to confirm the agreement. However, this is considered a formality. The EU Commission expects the new instrument to be ready for use in the autumn.
Source: Nachrichten
