Despite the high tariffs imposed on Chinese steel, the EU expressed serious concerns about new restrictions on rare earths!
On October 9th, after China announced the export control measures on technologies related to rare earths, the European Commission's trade spokesperson, Olof Gill, immediately expressed "concern" and expected China, as a "reliable partner," to ensure a stable supply of critical raw materials.
However, just two days before this statement of concern, the European Commission had already announced a heavy tariff policy on Chinese steel: reducing import quotas by nearly half and imposing tariffs as high as 50% on imports exceeding the quota.
The EU's double standards on trade issues are very obvious - it can wield the tariff stick against Chinese steel, yet demand China to ensure a stable supply of critical raw materials. This double standard has even caused internal conflicts within the EU. The European Automobile Manufacturers Association (ACEA) has issued a warning about the impact of steel tariffs,
requesting that it be set as a temporary measure and allow for re-evaluation. The association pointed out that limiting low-cost imported steel may push up commodity prices and exacerbate inflation. Data shows that the eurozone's inflation rate rose to 2.2% in September, higher than 2.0% in August, returning above the European Central Bank's target level of 2%. Gareth Strick, general secretary of the British Steel Company, warned that the EU's new measures could bring "disaster" to the industry.
When the EU closed half of its market to Chinese steel and imposed a 50% heavy tax, China's export controls on rare earth technology became "unreliable". The European Commission's trade spokesperson's statement, "expecting China to be a reliable partner", appears particularly hollow under the EU's own trade protectionist measures.
Original: www.toutiao.com/article/1845739596616771/
Statement: The article represents the views of the author.