European Union will use all tools to cut China trade deficit, von der Leyen says
- Brussels: The European Union will use every possible means to reduce its "unsustainable" trade deficit trade with China, European Commission President Ursula von der Leyen said on Wednesday.
- Von der Leyen said that the imbalance, with a goods trade deficit of €1 billion ($1.15 billion) a day last year, had reached a tipping point and that Europe was already suffering from the second China shock through deindustrialisation.
- EU leaders called on the European Commission in June to produce results from dialogue with China and to ensure the bloc has all the instruments it needed to defend its interes
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- Brussels: The European Union will use every possible means to reduce its "unsustainable" trade deficit trade with China, European Commission President Ursula von der Leyen said on Wednesday.
- Von der Leyen said that the imbalance, with a goods trade deficit of €1 billion ($1.15 billion) a day last year, had reached a tipping point and that Europe was already suffering from the second China shock through deindustrialisation.
- EU leaders called on the European Commission in June to produce results from dialogue with China and to ensure the bloc has all the instruments it needed to defend its interes
Sources: Economictimes