BRUSSELS: The European Union (EU) is developing a \u201csolidarity instrument\u201d to support companies that diversify critical supplies away from China and cushion the impact of any retaliation by Beijing in the event of a trade conflict. <\/p>\n
The tool will come at a price, though, and would require funding, just as member states haggle over the bloc\u2019s next multiyear budget, according to people familiar with the matter. <\/p>\n
It\u2019s unclear how much money would need to be committed as it would depend, among other things, on the scale of any Chinese response \u2013 but it could be significant, given the size of the industries and trade involved.<\/p>\n
The EU\u2019s deliberations come as several member states push to cut spending.\n <\/p>\n
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