The recent implementation of US tariffs on China has raised alarm in Europe concerning potential trade diversions that may lead to overcapacity. European officials, including President Ursula von der Leyen, have raised these concerns with Chinese leadership and discussed tracking trade movements. The US's 145% tariff on Chinese goods is expected to drastically reduce Chinese exports to the US, which could force excess products into the European market, compelling Europe to consider imposing its own tariffs on imports from Asia, thus reshaping global trade dynamics.
"President von der Leyen emphasized China's critical role in addressing possible trade diversion caused by tariffs, especially in sectors already affected by global overcapacity."
"If exports from Asia don't flow to the US, Asia may dump its excess products on Europe, inducing Europe to put up its own tariffs on imports from Asia."
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