(MENAFN) European Commission President Ursula von der Leyen has announced her intention to advocate for fair competition during upcoming discussions with Chinese President Xi Jinping in Paris. Ahead of a three-way meeting with French President Emmanuel Macron, von der Leyen emphasized the need to address distortions and ensure fairness in trade relations with China.
Von der Leyen highlighted concerns over China's manufacturing practices, citing the issue of massive subsidies leading to overproduction and subsequent dumping of products in global markets. This imbalance, she argued, poses a threat to fair competition, particularly in industries such as electric cars and steel, and undermines European industrialization efforts.
Expressing discontent with practices that distort markets, von der Leyen emphasized that Europe cannot tolerate such behaviors that undermine fair competition and potentially harm its industries. She underscored the importance of addressing current imbalances in market access, stressing that these issues are not permanent and must be rectified to promote equitable trade relations.
The announcement comes amid escalating trade disputes between the European Union and China, with the EU intensifying investigations into alleged state support for various Chinese industrial sectors, notably electric cars. Von der Leyen's statements signal a firm stance on ensuring fair competition and addressing trade imbalances in discussions with China, reflecting the EU's commitment to safeguarding its economic interests and promoting a level playing field in global trade.
MENAFN06052024000045015682ID1108176889
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.