The European Union must protect its interests and make the “rational choice“ to get closer to China given the uncertainty created by the new US administration. This is stated in an editorial in the Chinese state-run newspaper Global Times, BTA reports.
European Commissioner for Trade and Economic Security Maroš Šefčovič is expected to visit China this week, after earlier being in Washington, trying to reduce tensions between the two economic powers. The EU and the US have threatened each other with tariffs on billions of dollars of goods, further straining their trade relations.
A day after Šefčovič's visit, US President Donald Trump announced new tariffs on imported cars – a move that severely affects European manufacturers, especially German ones, which export nearly 25% of their production to the US market.
European Commission President Ursula von der Leyen called Washington's decision “bad for business, even worse for consumers“ and stressed that the EU would continue to seek solutions through negotiations, while at the same time protecting its economic interests.
According to the Global Times, “with increasing uncertainty in US policy, China, as a global power, is establishing itself as a stable and reliable partner“.
Šefčovič is expected to raise the issue of the trade imbalance between the EU and China, as well as the long-standing challenges facing European companies in the Asian country – lack of reciprocal access to public procurement, market barriers and restrictions on cross-border data exchange.
At the same time, he is likely to highlight the need to strengthen economic ties between the EU and China, as the European single market remains a key export destination for Chinese goods, said Jens Eskelund, president of the EU Chamber of Commerce in China.
Šefčovič is one of several high-ranking European officials to visit China this week. Visits are also expected from the foreign ministers of France and Portugal.
During a meeting with the Portuguese diplomatic representative, Chinese Foreign Minister Wang Yi said that Beijing supports Europe in “preserving its strategic autonomy“ and seeks closer ties with the EU.
China has also been hit by US sanctions and has already announced retaliatory measures.
“Faced with the dynamically changing international environment, Europe should adopt a pragmatic approach and develop its relations with China in a more balanced manner,“ concluded the Global Times.