The EU may wage a trade war with China, the reason being cheap imports | iRADIO

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According to Ursula von der Leyen, the European Union does not hesitate to take tough measures to defend its own economy and security. The head of the European Commission said this after a meeting with Chinese President Xi Jinping, who visited the old continent last week, writes the British newspaper The Guardian.



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Brussels
12:47 p.m May 13, 2024

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EU officials do not like the import of cheap Chinese electric cars, steel or technology for solar and wind power plants. Von der Leyen believes that state support for Chinese industry, which allows products to be discounted below cost, threatens employment in European countries.

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At the same time, the warning about tough measures from the mouth of the president of the European Commission came barely two hours after a cordial meeting in the Elysee Palace, in which, in addition to von der Leyen and the Chinese president, his French counterpart Emmanuel Macron also participated.

Before this meeting, Xi Jinping declared that China and the European Union, as two major world powers, should stick to mutual dialogue and cooperation, and thus strengthen stability and world peace.

However, the European Union agrees with Washington in its position on trade with Communist China. US Treasury Secretary Janet Yellen has warned Beijing officials that the US will not tolerate the destruction of emerging technology industries by cheap imports from China.

Peace negotiations

Von der Leyen, Macron and Xi also discussed the geopolitical situation and agreed that their common interest is peace and security. While China is not expected to attend a planned peace conference on Ukraine in Switzerland, it is being talked about as a possible mediator in the peace talks. After all, the president of the European Commission highlighted the role of the Chinese president in the de-escalation of Russian nuclear threats.


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However, tensions in the economic field remain, The Guardian notes, noting that the European Union is investigating several cases related to Chinese efforts to weaken competition with undervalued price offers in the automotive industry, steel industry, wind turbines, solar panels or medical devices.

The head of the European Commission spoke out against the flooding of the local market with subsidized Chinese products, saying: “Our market is and remains open to fair competition and investment. But Europe cannot accept practices that distort the market and could lead to the deindustrialization of the region.”

European manufacturers complain, for example, that the price of Chinese wind turbines is up to 50 percent lower than the price of domestic products. Green technology companies have gradually lost their original lead in the production of turbines or solar panels, and now China is pushing them out of the market.

And while Europe is angry that China is flooding the market with overproduction instead of curbing production or building an outlet at home, the Chinese argue that the G27 members have an open door to their own huge market, the British daily concludes.

Zuzana Marková

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