France has urged the European Union to consider drastic measures to counter a surge of cheap Chinese imports, including a 30% tariff on all Chinese goods or a sharp depreciation of the euro against the renminbi. A government strategy report warns that Chinese firms are eroding Europe’s industrial base, threatening sectors such as cars, chemicals and batteries, with large parts of French and German output exposed. The report argues that existing EU trade-defence tools are too slow and weak to address China’s cost advantages and an allegedly undervalued currency. Such proposals would be difficult to implement, requiring broad political backing across the bloc and potentially sparking market volatility. France says it may use its G7 presidency to push a wider debate on global economic imbalances driven by China’s export-led growth.
Otherwise_Young52201 on
Macron seeing Starmer get all those deals with China while he got basically nothing really irked him didn’t it?
Party-Benefit5112 on
A sharp depreciation of the Euro against the renminbi? So just a sharp depreciation of the Euro? I am a bit sympathetic to concerns about unfair competition from China but France’s soul is too protectionist to take them seriously.
3 Comments
France has urged the European Union to consider drastic measures to counter a surge of cheap Chinese imports, including a 30% tariff on all Chinese goods or a sharp depreciation of the euro against the renminbi. A government strategy report warns that Chinese firms are eroding Europe’s industrial base, threatening sectors such as cars, chemicals and batteries, with large parts of French and German output exposed. The report argues that existing EU trade-defence tools are too slow and weak to address China’s cost advantages and an allegedly undervalued currency. Such proposals would be difficult to implement, requiring broad political backing across the bloc and potentially sparking market volatility. France says it may use its G7 presidency to push a wider debate on global economic imbalances driven by China’s export-led growth.
Macron seeing Starmer get all those deals with China while he got basically nothing really irked him didn’t it?
A sharp depreciation of the Euro against the renminbi? So just a sharp depreciation of the Euro? I am a bit sympathetic to concerns about unfair competition from China but France’s soul is too protectionist to take them seriously.