EU Official Says Bloc to Explore Asia Pacts as US Tariffs Loom
(Bloomberg) -Is the European Union wants to deepen trade agreements with other countries in India and Asia-Pacific region as a block bracket for US tariffs.
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“We should discover how deep we can go in the Pacific region in the Pacific region, T Teresa Ribera, the EU competition chef Teresa Ribera, on Monday. “For example, these conversations with India are very important, ve he said, and is expected to be completed by the end of the year by referring to free trade talks with the South Asian nation.
Bloomberg is preparing to increase its interaction with other countries shot by US President Donald Trump after new threats against the EU block and other US trade partners. Ribera spoke from Beijing and held two -day climate -oriented interviews with Chinese officials, including Vice President Ding Xuexiang.
Ribera’s meeting comes when Trump increases pressure on trade partners in the last weeks of negotiations before the so -called mutual tariffs. While recommending that the EU continues to negotiate, if the tariffs become reality, they will work harder to sell block goods to other places.
Ribera, Deputy General Manager of the European Commission, said, iz We should continue to work with other partners and other allies that are willing to apply the rule of law in the world, ”he said. This “peaceful and fair trade flows will take place.”
It will follow an EU-China Summit where EU and Chinese leaders can touch on prickly problems covering trade and geopolitics. China has searched for closer ties with the EU, but the block China industrial excessive capacity, the lack of market access for EU companies, and Beijing has increased its support to Moscow after occupation of Ukraine.
Other EU complaints include new export controls by China in the rare earth magnets that hit European industries. In addition, little progress was made in solving the differences in the decision of the EU’s decision to bring tariffs on allegations that producers benefit from unfair subsidies to Chinese electric vehicles.
Ribera, referring to China’s control over rare worlds, said, “There should be no bottleneck that kills prosperity all over the world,” he said. “So this is another bullet that we should discuss to prevent damage.”
