The European Commission plans to propose further restrictions on Chinese imports beyond the safeguard measures it recently agreed with Beijing. Commission President Ursula von der Leyen said the existing deal does not address a structural trade imbalance.
European Commission President Ursula von der Leyen said on Friday that the Commission will propose additional restrictions on Chinese imports that go beyond the safeguard measures recently agreed with Beijing. She spoke at a news conference following an EU summit in Brussels.
The existing agreement with China aims to reduce incoming shipments of Chinese hybrid vehicles by half. Von der Leyen stated, however, that the deal would not resolve a structural trade imbalance.
She pointed to the scale of the gap: the EU's goods trade deficit with China is exceeding €1 billion ($1.12 billion) daily, according to the report.
Von der Leyen said industries had pressed for action. According to von der Leyen: "Our industries have called for action and we have heard them and we will respond". She added that EU leaders clearly supported the move.
Source: Investing.com
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