EU senses more leverage over Beijing as US and China wage superpower trade war

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EU senses more leverage over Beijing as US and China wage superpower trade war
Tariff Wars
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PETALING JAYA: Men's doubles shuttles Aaron Chia-Soh Wooi Yik crowned their superb run in the Asian Championships by beating world No. 16 homesters Chen Boyang-Liu Yi 21-19, 21-17 in the final at the Ningbo Olympic Sports Centre Gymnasium on Sunday (April 13).

last month, he gave his Chinese counterparts an ultimatum: do something about hefty tariffs on cognac imports and the liquor’s abrupt removal from your duty-free stores, or our entire “strategic agenda” will be paused.in the second half of this year for another summit with his Chinese counterpart Xi Jinping, the stakes were high.

“I think we have more leverage than we’ve ever had, because China is the only one targeted. We’re not targeted any more,” said Agatha Kratz, a partner at the Rhodium Group research house, referring to US President Donald Trump’s“China has 125 per cent from the US. It’s completely mind-blowing,” she added.

“We are prepared to use every tool in our trade defence arsenal to protect the EU single market, EU producers, and EU consumers,” Sefcovic said on Monday. The mechanism is country-agnostic, per World Trade Organization rules, but was implemented with China’s huge steel surplus in mind. It is thought that similar moves could be made for the automotive and chemical industries, where China is seen to produce far more goods than it can consume.

Sources said that on trade, both Paris and Brussels finally felt like China was listening to their concerns. “They definitely made the right noises,” said an EU official. Sefcovic said on Monday that the EU had been enhancing its import surveillance system to track real-time import flows, and the bloc would “set up a task force” for this purpose.

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