China Warns EU of Retaliation Over 301-Style Curbs as €880 Billion Trade Talks Near
Updated
Updated · CNBC · Sep 30
China Warns EU of Retaliation Over 301-Style Curbs as €880 Billion Trade Talks Near
2 articles · Updated · CNBC · Sep 30
Summary
Beijing said it will “respond firmly” if the EU imposes restrictions on Chinese companies or products, escalating pressure before high-level talks in China next week.
China’s commerce ministry said any new curbs while negotiations are underway would seriously damage mutual trust and disrupt talks aimed at narrowing Europe’s record trade deficit with China by October.
Maroš Šefčovič, the EU trade commissioner expected in Beijing next week, has warned China must deliver concrete results by October or face harsher measures.
European officials are weighing tools that could mirror U.S. Section 301 tariffs; a Germany-France paper reportedly urges a mechanism that could shut China out of the EU market within 24 hours.
The stakes are large: the EU says it was China’s top overall trading partner last year, with €880 billion in combined goods and services trade.