De Gucht Urges EU to Curb Chinese Imports as Goods Deficit Nears €360 Billion
Updated
Updated · Financial Times · Jul 23
De Gucht Urges EU to Curb Chinese Imports as Goods Deficit Nears €360 Billion
2 articles · Updated · Financial Times · Jul 23
Summary
Karel De Gucht said the EU should use its market power more aggressively against Beijing, including shutting out more Chinese goods and considering 70% European-content rules for electric-car imports.
€360 billion in EU goods deficit with China last year—up from €104 billion in 2013—underpins his argument that current efforts are failing to stop cheap imports from eroding industries such as cars and chemicals.
De Gucht said member states weaken Brussels by pursuing separate ties with China, arguing Beijing exploits those divisions and that the bloc should not wait for new anti-coercion tools before acting.
47% average anti-dumping duties he sought on Chinese solar panels in 2013 were diluted after Chinese retaliation threats, and Europe’s solar share has since fallen to 0.2% from about 30% in 2007.
45 trade deals with 80 partners give the EU leverage, he said, as Brussels also works on supply-chain diversification and solidarity measures while the WTO dispute system remains paralyzed.