Media: EU Trade Commissioner Considering Tariffs on Chinese Chemicals and Equipment
According to sources quoted by the UK's Financial Times, EU Trade Commissioner Maroš Šefčovič is considering imposing tariffs on Chinese chemicals and equipment.
It has been reported that "Šefčovič is planning a series of 'strict' tariffs on Chinese chemical products and equipment to curb the massive influx of Chinese goods that have already undermined the position of European manufacturers."
In addition, the EU is considering a plan to force European companies to diversify their suppliers, thereby reducing dependence on China. The new rules could affect key sectors of the economy, including chemical and machinery manufacturing.
The initiative is seen as a potential response to China’s restrictions on the export of key technologies.
According to the report, the EU is considering setting a cap of 30% to 40% on the proportion of purchases from a single supplier for EU-based companies. If approved, European firms would be required to source raw materials from at least three suppliers located in different countries.
EU officials told the publication that the plan is still in its early stages and will be submitted to the European Commission meeting on May 29 for review. The proposal may subsequently be presented to the European heads of state summit scheduled for late June for approval.
Sources emphasized that the proposed restrictions are not aimed solely at China, as many of the EU’s raw materials and chemicals come from other countries—for example, helium from the United States and Qatar, and cobalt from the Democratic Republic of the Congo and Indonesia.
Furthermore, sources told the publication that the EU is considering allocating more low-tariff steel import quotas to its trusted partners while reducing quotas for other countries, in an effort to increase pressure on China.
Source: sputniknews
Original article: toutiao.com/article/1865508011520074/
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