Business · Trade · 4 hrs ago
EU asks Commission to propose new trade restrictions on China
EU leaders asked the European Commission to propose a new trade tool at a meeting in Brussels on Thursday.
The proposed safeguards could restrict selected countries or companies from the EU single market.
The move is aimed at curbing imports from China, according to the proposal’s reported purpose.
The timing follows a record $35 billion EU-China trade surplus in September and a trade deal on hybrid cars.
The tool could give the EU a way to limit access to its market, though its details are not yet clear.
The Commission is expected to submit a proposal by the end of this year, and negotiations are due next year.
EU leaders asked the European Commission to prepare a proposal for a new trade instrument by the end of the year.
The proposed safeguards could restrict some countries or companies from accessing the EU single market.
Negotiations on the proposal are expected next year.
The development follows a record $35 billion EU-China trade surplus in September and a hybrid-car trade deal.
- Who
- EU leaders asked the European Commission to prepare the proposal.
- What
- The EU is developing trade safeguards that could limit some countries or companies’ access to its single market.
- When
- Leaders made the request on Thursday; they want a proposal by the end of the year, with negotiations next year.
- Where
- Brussels. The proposed restrictions would apply to access to the EU single market.
- Why
- The sources link the development to a record $35 billion EU-China trade surplus in September and a hybrid-car trade deal.
This story does not have two clearly opposing sides.
EU leaders in Brussels asked the European Commission to prepare a proposal for a new trade instrument.
The European Commission is expected to present its proposal.
Negotiations on the proposal are expected to take place.
- Requested by
- EU leaders
- Proposal deadline
- End of the year
- Expected negotiations
- Next year
- September EU-China trade surplus
- $35 billion
- Proposed measure
- Possible limits on single-market access for select countries or companies