China is currently engaged in critical negotiations with the European Union (EU) to address the EU's plan to implement new steel tariffs starting July 1 this year. According to the Ministry of Commerce, these discussions are taking place within the framework of the World Trade Organization (WTO) as both sides seek a resolution.
During a press briefing on Thursday, Ministry of Commerce spokesperson He Yadong expressed concerns over the EU's proposed measures, describing the move as an act of trade protectionism. He noted that such policies not only fail to truly enhance the competitiveness of the EU's own steel industry but also threaten to severely disrupt steel trade between China and the EU.
The spokesperson further emphasized that these tariffs could have a broader impact, potentially affecting the stability of global production and supply chains. In an interconnected global economy, such disruptions can ripple through various industries, impacting business professionals and investors worldwide.
China has expressed a strong desire to achieve a win-win outcome through these negotiations. The primary goal is to promote the stable and healthy development of economic and trade relations between China and the EU, ensuring that growth remains mutually beneficial.
However, the Ministry of Commerce also maintained a firm stance on protecting its national interests. He Yadong stated that should the EU choose to discriminate against Chinese companies and products, China is prepared to take corresponding measures to firmly safeguard its legitimate rights and interests.
Reference(s):
China negotiating with EU on new steel tariffs, says commerce ministry
cgtn.com
