Macron Warns China: If No Measures Are Taken to Reduce the Trade Deficit, the EU Will Have to Impose Tariffs
French President Macron took a hard stance on China, warning that if Beijing does not take measures to reduce the growing trade deficit with the EU, the EU will be "forced to take tough measures, such as imposing tariffs on Chinese products, similar to the US approach," in the coming months. According to AFP, Macron made these remarks during an interview with Les Echos on Sunday, December 7, after concluding his official visit to China.
The report stated that the US currently imposes high tariffs on Chinese products, but according to an agreement reached at the end of October, the tariff rate has been reduced from 57% to 47%.
Macron said, "China is hitting the core of European industry and innovation models, while Europe's traditional advantage lies in machine tools and the automotive industry."
The protectionist policies of the Trump administration have only exacerbated the situation. "The US has shifted a large volume of Chinese goods to the European market, worsening our problems," Macron emphasized in the interview. "Now, we are caught in the middle, which is a matter of life or death for European industry."
However, Macron also recognized that it is not easy for the EU to form a united front on this issue, because "Germany has deep interests in China and has not yet fully joined us."
During his visit to China, Macron reiterated that in order to reduce the trade deficit with China, Europe must accept Chinese investment. "We cannot keep importing; Chinese companies must invest in Europe," he said in Les Echos.
The sectors involved include more than a dozen industries, including batteries, lithium refining, wind power, photovoltaics, electric vehicles, air-source heat pumps, consumer electronics, recycling technology, industrial robots, and advanced components.
But Macron emphasized that Chinese investments in Europe: "should not be predatory, i.e., they should not aim to pursue hegemony and create dependence."
The report states that, in the view of the French president, the EU must strengthen protection in its most vulnerable areas (such as the automotive industry facing a surge of Chinese electric vehicles), while "restarting competitiveness policies." As for specific measures, they include: "streamlining processes, deepening the single market, increasing innovation investment, fair protection of borders, completing the customs union... and adjusting monetary policy."
Source: rif
Original: toutiao.com/article/1850898668014604/
Statement: This article represents the views of the author alone.