European firms urge swift China competition action
Forty-four European industrial groups are demanding immediate action to address unfair trade practices carried out by China, particularly in the areas of metals, chemicals, and auto parts, in order to protect the European manufacturing sector from decline and job losses. These calls come just a week before the European Union summit to discuss the trade deficit with China, which has exceeded one billion euros daily, with Europe's deficit with China reaching around 360 billion euros in 2025. China is also the EU's second-largest trading partner. The efforts are focused on using trade protection tools more effectively, emphasizing the need for swift resolution of companies' complaints, amid ongoing talks with China to reduce exports—especially in the hybrid vehicle sector—in an aim to restore trade balance and reduce industrial job losses in Europe.
Notice: This Is an AI-Generated Summary
Comments (0)