EU plans further import restrictions on Chinese sectors, von der Leyen announces

European Commission President Ursula von der Leyen announced on Friday that the European Commission will propose further import restrictions on China, extending beyond the safeguard measures agreed with Beijing to halve inbound shipments of Chinese hybrid cars. Speaking at a news conference following an EU summit, von der Leyen stated that the agreement struck with China would fail to resolve the underlying structural imbalance, noting that the EU's goods trade deficit with China currently exceeds €1 billion per day.

Von der Leyen emphasized the necessity for action in response to calls from European industries, adding that this approach received clear support from EU leaders. Following the summit, French President Emmanuel Macron told reporters that the bloc ought to concentrate on specific measures targeting chemicals, plastics, and ferro-alloys. Furthermore, von der Leyen expressed support for a Franco-German paper published the previous month, which recommended reinforcing the European economy through a rapid-action measure against countries causing economic harm.

Looking ahead, the European Commission plans to develop a new instrument aimed at rapidly limiting access to the EU single market when deemed to be in the bloc's interest. Additionally, the executive Commission intends to put forward a proposal in December for a new instrument designed to reduce the reliance of EU companies on single sources for critical supplies. The Commission will also introduce a solidarity mechanism intended to assist countries or sectors facing external coercion or retaliation.