The European Union is prepared to introduce emergency measures to combat China’s export surge after figures showed the trade gap widening dramatically.
Denis Redonnet, the EU’s deputy director general for trade, told the European Parliament’s trade committee on Tuesday that safeguard measures permitting tariffs and quotas may become legitimate on a case-by-case basis.
Redonnet said the bloc had little expectation that Beijing would make structural changes to its economic model. He added that structural rebalancing will not take place before October.
“Structural rebalancing will not take place before October, what can we do before that October deadline? We’ll look at a number of sectors, try to start rebalancing, try to rein in the export levels,” Redonnet said.
