Step back from costly tit-for-tat trade battles between China and EU

Published 2024년 7월 1일

Tridge summary

Negotiations between China and the EU are necessary to prevent a potential escalation of their trade relations into a war, as both parties have initiated anti-dumping investigations against each other. China is looking into subsidies and overcapacity in EU pork exports, which make up nearly half of China's pork imports, primarily from Spain. In retaliation, the EU plans to increase tariffs on Chinese electric vehicles by up to 38% from July 4. These investigations could prolong the trade tensions, affecting industries and relationships beyond trade. Both sides have expressed concerns about the potential negative impacts on their economies and have called for efforts to deescalate the situation without further damaging their business environment.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Chinese and EU negotiators must do all they can at an early stage to avoid further aggravating already tense ties It is regrettable that steps are being taken towards yet another international trade war, this time in tit-for-tat anti-dumping investigations by China and the European Union. Beijing has said it will look into certain pork products imported from the EU over all of last year, citing “overcapacity” and subsidies. The accusations echo earlier allegations by Western leaders. After a seven-month probe of state subsidies for China’s electric vehicle (EV) industry, the EU has said it will raise tariffs on Chinese EVs by up to 38 per cent from July 4. China’s investigation, announced days after the EU tariffs, will cover fresh, cold and frozen pork, offal, pig fat, intestines, bladders and stomachs. As the world’s largest pork consumer, more than half of global annual pork production ends up on tables in China. The EU is China’s largest source of pork and pork products, ...

Source: WTOCenter