EU's Open Market Policy Faces Scrutiny Amid Chinese Trade Talks
The European Union may reconsider its open market policy towards China due to a lack of reciprocity. Ursula von der Leyen, President of the European Commission, highlighted concerns about overcapacity and subsidised production. The EU seeks progress from China to maintain its current trade openness.
In a move that could reshape European trade dynamics, European Commission President Ursula von der Leyen signaled potential adjustments in the EU's openness towards Chinese imports. The call for change arises from concerns over reciprocity and fairness in trade practices.
During her recent trip to Beijing, von der Leyen emphasized the disparity between European and Chinese market openness. "Unlike other major markets, Europe keeps its market open to Chinese goods," she remarked, urging for a more balanced trade relationship.
Von der Leyen highlighted issues such as overcapacity and external market restrictions on Chinese imports, which impact the EU's single market. "We need to see progress on this issue," she warned, indicating the possibility of policy changes if challenges persist.
(With inputs from agencies.)
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