The European Union\u2019s trade chief Maros Sefcovic has railed against the bloc\u2019s glacial trade defences, warning that years-long probes and rigid rules will not protect the bloc from China\u2019s increasingly fierce export machine.<\/p>\n
Speaking in the European Parliament on Tuesday, Sefcovic lashed out at Beijing\u2019s \u201cunsustainable\u201d trade surplus and called for an urgent overhaul of world trading rules to account for \u201covercapacities\u201d, \u201cunfair trade policies\u201d and \u201cstate subsidies\u201d.<\/p>\n
He confirmed, meanwhile, that the commission was \u201cmonitoring very closely the increase of plug-in hybrid Chinese vehicles\u201d to the EU.<\/p>\n
\u201cLast year the deficit with China was \u20ac360 billion [US$424 billion] \u2026 clearly this is not sustainable in the medium to long-term,\u201d the commissioner said, pointing to an International Monetary Fund study which showed that 4 per cent of Chinese gross domestic product is used for \u201cdifferent kinds of state subsidies\u201d.<\/p>\n
\u201cWe have well over 200 cases where we are using trade defence investigations. But here I also would like to say that in the framework for our economic security discussions … we have to look at how we can speed up the process,\u201d Sefcovic added.<\/p>\n
An average trade probe can take \u201cmore than a year\u201d and often relies on an official complaint from a company. The process \u201ctakes a lot of time and often misses the opportunity to act when it\u2019s really needed\u201d, the Slovak official said.<\/p>\n","protected":false},"excerpt":{"rendered":"The European Union\u2019s trade chief Maros Sefcovic has railed against the bloc\u2019s glacial trade defences, warning that years-long…\n","protected":false},"author":2,"featured_media":3372,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5],"tags":[954,18,2819,2821,400,381,299,125,2818,2815,2820,251,2816,2817,1989,87],"class_list":["post-3371","post","type-post","status-publish","format-standard","has-post-thumbnail","category-brussels","tag-beijing","tag-brussels","tag-busan","tag-cameroon","tag-china","tag-donald-trump","tag-european-parliament","tag-european-union","tag-financial-times","tag-huawei","tag-international-monetary-fund","tag-maros-sefcovic","tag-nexperia","tag-scotland","tag-shein","tag-united-states"],"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/be\/wp-json\/wp\/v2\/posts\/3371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/be\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/be\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/be\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/be\/wp-json\/wp\/v2\/comments?post=3371"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/be\/wp-json\/wp\/v2\/posts\/3371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/be\/wp-json\/wp\/v2\/media\/3372"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/be\/wp-json\/wp\/v2\/media?parent=3371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/be\/wp-json\/wp\/v2\/categories?post=3371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/be\/wp-json\/wp\/v2\/tags?post=3371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}