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EU trade official flags emergency curbs to address China export surge

The EU signaled it is considering safeguard tools that can include tariffs and quotas on a case-by-case basis, after new data showed the China-related trade gap widened dramatically.

Reported · Written up by our desk · Trade & Tariffs

The European Union is preparing emergency measures to respond to what it described as a sharp Chinese export surge, after fresh data showed the trade gap widened dramatically, according to SCMP Economy.

Denis Redonnet, the EU deputy director general for trade, said the bloc’s safeguard instruments, which allow tariffs and quotas to be enforced to curb sudden import surges, may become legitimate on a case-by-case basis.

Redonnet also told the European Parliament’s trade committee that the EU did not expect Beijing to make structural changes to its economic model before an October deadline.

He said the EU plans to look at a number of sectors to begin rebalancing and rein in export levels ahead of that timing window, SCMP Economy reported.

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