China tries to create anti-US alliance on trade with the EU

Sorin Melenciuc 03/07/2018 | 17:15

China is putting pressure on the European Union to issue a strong joint statement against President Donald Trump’s trade policies at a summit later this month but is facing resistance, even if it offers to open more of the Chinese market, according to Reuters.

In meetings in Brussels, Berlin and Beijing, senior Chinese officials, including Vice Premier Liu He and the Chinese government’s top diplomat, State Councillor Wang Yi, have proposed an alliance between the two economic powers and offered to open more of the Chinese market in a gesture of goodwill.

One proposal has been for China and the EU to launch joint action against the United States at the World Trade Organisation.

But the European Union, the world’s largest trading bloc, has rejected the idea of allying with Beijing against Washington, five EU officials and diplomats told Reuters.

Instead, the summit is expected to produce a modest communique, which affirms the commitment of both sides to the multilateral trading system and promises to set up a working group on modernizing the WTO, EU officials said.

A trade war between the main global economies triggered by rising import tariffs could hit Romania, a member of the European Union, through several channels, mainly by imported inflation, lower foreign investment and higher unemployment rates, economists suggest.

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