Europe needs to protect key industries from China and avoid becoming dependent on the Asian nation for rare earths and other critical raw materials, according to a French Minister for European affairs Benjamin Haddad…
With Europe under pressure on multiple fronts, including US trade tariffs and Russia’s war on Ukraine, the continent’s leaders should “give themselves the ability to defend their interests,” he said.
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France has long advocated for a robust stance toward Beijing. During a summit last month, President Emmanuel Macron called on EU counterparts to consider using the bloc’s most powerful trade tool against China if they aren’t able to find a resolution to Beijing’s export controls on critical raw materials.
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Macron said governments need to weigh using all options available, including the so-called anti-coercion instrument … The mechanism, which has never been used, was designed primarily as a deterrent, and if needed, to respond to deliberate coercive actions from third countries that use trade measures as a means to pressure the EU or its members.
Those measures could include tariffs, new taxes on tech companies or targeted curbs on investments in the EU. They could also involve limiting access to certain parts of the common market or restricting Chinese firms from bidding for public contracts in Europe.
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