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EU trade chief says no intention to disengage from China amid rising tension

EU trade chief says no intention to disengage from China amid rising tension
September 23, 2023 – 2:34 p.m.

CHINA-EU/TRADE – REUTERS Agency

SHANGHAI (Reuters) – The European Union has no intention of disengaging from China, but needs to protect itself in situations where its openness is abused, the bloc’s executive vice president, Valdis Dombrovskis, said on Saturday.

The bloc posted record bilateral trade with China last year but is “very unbalanced”, he said in a speech at the annual Bund Summit conference in Shanghai, citing a trade deficit of nearly 400 billion euros.

Dombrovskis is on a four-day visit to China in search of more balanced economic ties with the EU.

It came just over a week after the European Commission said it would consider imposing punitive tariffs to protect European producers from Chinese imports of cheaper electric vehicles that it says benefit from state subsidies.

The trip aims to resume dialogue with China after the COVID-19 pandemic and at a time when the EU is increasingly wary of Beijing’s closer ties with Moscow following Russia’s invasion of Ukraine. in 2022. (Reporting by Brenda Goh; Edited in Spanish by Ricardo Figueroa)

Source: Ambito

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