The EU moved to shield itself from what it sees as a growing threat from Chinese exports, while companies in the bloc said they were deepening reliance on the Asian power’s manufacturing prowess.
The EU industry commissioner said Brussels would deploy trade measures, including import quotas and tariffs, across a range of sectors alongside requirements that firms diversify their supply chains away from China as part of a more “muscular” strategy.
Yet even as he lauded this “less fragmented approach,” European companies surveyed by the EU Chamber of Commerce in China said they would maintain or expand their supply chains there to drive their global competitiveness. “We don’t see … de-risking becoming a theme,” the business group’s president said.
