China, EU Discuss Trade In Response To US Tariffs
China and the European Union have exchanged views on strengthening their economic and trade cooperation in response to US tariffs, China’s Commerce Ministry said on Thursday.
In a video call on Tuesday, Chinese Commerce Minister Wang Wentao discussed with European Commissioner for Trade and Economic Security Maros Sefcovic the resumption of talks on trade relief and the immediate negotiation of electric vehicle price commitments, the Chinese ministry said in a statement.
The conversation came shortly before US President Donald Trump’s additional tariffs on China took effect.
Trump said on Wednesday that he would temporarily roll back tariffs he has recently imposed on dozens of countries in a surprise reversal. But he has ratcheted up pressure on China, threatening to raise tariffs on the world’s second-largest economy to 125%.
China is ready to deepen trade, investment and industrial cooperation with the EU, Wang told Sefcovic.
Wang urged China and the EU to jointly safeguard the rules-based multilateral trading system and adhere to trade liberalization and facilitation, "which will inject more stability and certainty into the world economy and global trade," the ministry statement said.
China and the EU also discussed creating a more favorable business environment for enterprises and trade transfer issues.
They will continue to strengthen communication under the World Trade Organization framework and jointly promote WTO reform, the ministry statement said.
Source: Investing.com
