The latest news from liquidity and risk management
Stay updated with real-time coverage of global trade developments, policy changes, and market movements affecting international commerce.
Brussels pressures Britain to align with tougher EU trade approach toward China
- Brussels has warned British Prime Minister Andy Burnham that Britain needs to raise tariffs on Chinese cars and align more closely with EU trade policy to avoid “made in Europe” barriers on key exports.
- The EU suggested that the best solution would be for Britain to join the EU customs union, reflecting Brussels’ attempt to gather support for its China trade agenda.
- Germany’s BDI industry association called for a more determined effort to reduce economic risks linked to China, urging Europe to diversify supply chains and forge new partnerships.
- France, Italy, and likely Germany are preparing to seek broad EU import quotas covering chemicals and plastics, whilst German officials have called for tougher measures on plug-in hybrid vehicle imports from China.
- Chinese experts warned that pushing for diversification whilst erecting trade barriers would constrain companies’ growth and that protectionism cannot generate greater competitiveness for Europe over the long term.
- Despite tougher rhetoric, divisions remain in Europe over restrictions, with some companies like BMW backing voluntary pricing agreements rather than additional tariffs and nearly one-third of German companies seeking greater cooperation with Chinese partners.
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