Beijing cautions EU of potential trade conflict
(MENAFN) China's Ministry of Commerce has cautioned the European Union against escalating tensions that could lead to a "trade war," citing grievances over what it perceives as unfair practices in the European Union's recent anti-subsidy investigation into Chinese electric vehicles (EVs). The warning follows the European Union's decision to impose significant tariffs, reaching up to 38percent, on Chinese EV manufacturers, prompting Beijing to retaliate with its own anti-dumping probe into certain pork products from the European Union.
In a statement quoted by local media on Friday, a spokesperson from China's commerce ministry squarely placed responsibility for potential trade conflicts on the European Union, accusing it of escalating trade frictions and disregarding important consensus reached between both sides. The spokesperson criticized the European Union's handling of the anti-subsidy investigation, alleging predetermined outcomes and inappropriate tariff rates that harm the interests of businesses on both sides and undermine broader China-European Union economic cooperation.
The ministry's statement underscored China's stance against what it termed as European Union protectionism, asserting that the European Union's actions during the anti-subsidy probe are detrimental to bilateral economic and trade relations. The dispute escalated further when China launched its anti-dumping investigation into certain pork imports from the European Union, signaling Beijing's readiness to respond in kind to what it views as unfair trade practices from the European side.
Notably, the timing of China's statement coincided closely with the arrival of German Economy Minister Robert Habeck in Beijing for a three-day visit, marking the first high-level European Union official visit to China since Brussels proposed the tariffs on Chinese EVs. The visit underscores ongoing efforts to navigate and potentially defuse trade tensions between China and the European Union, particularly amidst concerns over the economic impact on German businesses affected by the new tariffs.
The situation highlights the complexities and challenges in China-European Union economic relations, emphasizing the critical importance of dialogue and negotiation to prevent further escalation and mitigate potential adverse effects on global trade stability.
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