B · Normal
[Chinese Chamber of Commerce in the European Union: If the European version of the "301" tool is finally implemented, it will disrupt the China-EU and global trade order] On September 30, the Chinese Chamber of Commerce in the European Union issued a "Statement on media reports that relevant EU member states are pushing the European Commission to create a European version of the "301" tool." The statement said that the EU-China Chamber of Commerce has taken note of recent reports that EU member states are pushing the European Commission to speed up the development of a European version of the "301" tool. We express concern and worry about the current relevant discussions on the European side. The Chamber of Commerce believes that if the European version of the "301" tool mentioned in media reports is finally implemented, it may cause major concerns about its compatibility with the rules of the World Trade Organization. Such unilateral trade tools tend to instrumentalize and weaponize international trade. Not only will they not help solve the structural problems currently faced by European industries such as high energy costs, insufficient investment, and improvement of innovation capabilities, they will instead disrupt the China-EU and global trade order and bring new uncertainties to the stability of global industrial and supply chains. European industries have also been negatively affected by similar unilateral trade measures. The Chamber of Commerce believes that international trade instruments should not fall into a "race to the bottom", let alone replace multilateral rules with unilateral measures. It is in the common interests of all parties, including Europe, to maintain the multilateral trading system based on the rules of the World Trade Organization and avoid "beggar-thy-neighbor".
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