EU and China: Von Der Leyen Promises to Protect EU Interests
Kanako Mita and Sawako Utsumi
Modern Tokyo Times
Ursula von der Leyen (President of the European Commission) promises to protect the European Union (EU) from unfavorable trade policies enacted by China.
After she held talks with President Emmanuel Macron of France and President Xi Jinping of China, she reiterated the need to protect the EU while being open to a positive response from China.
Von der Leyen said, “Europe will not waver from making tough decisions needed to protect its economy and its security.”
She continued robustly, “We will defend our companies, we will defend our economies.”
Von der Leyen is irked by the steel sector and electric cars from China being boosted by government subsidies (and other areas). Hence, she said, China’s steel and electric cars were “flooding the European market.”
She also warned that China was “massively supporting its manufacturing sector” and that this surplus production was hindering a fair market.
Von der Leyen also said, “Europe cannot accept market-distorting practices” that hinder the EU.
Reuters reports, “The EU’s more robust stance on trade with China dovetails with Washington’s approach. U.S. Treasury Secretary Janet Yellen has warned China that Washington would not accept new industries being “decimated” by Chinese imports.”
Von der Leyen continued, “Europe cannot accept the market-distorting practices that could lead to deindustrialization here at home.”
Lee Jay Walker (Modern Tokyo Times analyst) says, “China knows that Germany under Chancellor Olaf Scholz is milder concerning economic weaknesses at home.”
It remains to be seen if the leader of China can reassure von der Leyen.
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