EU Plans to Strengthen Trade Measures Against China; Beijing Warns of Countermeasures

The European Commission is planning to take stronger measures to balance trade relations with China. In response, the Chinese Ministry of Commerce stated this afternoon that China and the EU are exploring the establishment of a trade and investment consultation mechanism and intend to engage in dialogue. However, it warned that if the EU insists on introducing new trade tools and imposing discriminatory restrictions, 'China will take firm countermeasures to protect its own interests.' A spokesperson for the Chinese Ministry of Commerce stated that China and the EU are important economic and trade partners and urged the EU to abide by World Trade Organization (WTO) rules, uphold free trade and fair competition, and oppose protectionism. Meanwhile, the European Commission held a meeting on the 29th to discuss how to protect key industries from Chinese competitors. The EU is increasingly concerned about its trade deficit with China; last year, the EU's trade deficit with China reached 360 billion euros ($419 billion), meaning that EU imports from China far exceed its exports to China.