Ursula von der Leyen criticized China for distorting trade practices, impacting European industries significantly with export controls on rare earth magnets. She emphasized the need for a genuine rebalancing in trade relations, calling out unfair advantages that Chinese goods receive, such as a 20% price advantage in public bids. The EU has responded with tariffs on electric vehicles and other measures against Chinese firms, contributing to heightened trade tensions. The deteriorating relationship has stalled progress on critical economic issues ahead of an anticipated summit between the EU and China.
If our partnership is to move forward, we need a genuine rebalancing: fewer market distortions, less overcapacity exported from China, and fair, reciprocal access for European businesses in China.
Entire Western industries closed - from solar panels to mineral processing - leaving China to dominate.
China invested early in many of the technologies of the future. But then it started flooding global markets with cheap, subsidized goods, to wipe out competitors.
Goods and services that are 'made in China' get an automatic 20% price advantage in public bids. This is simply not fair. The system is explicitly rigged.
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