Ahead of a major summit next week, EU leaders in Brussels are weighing aggressive new trade restrictions against China.
The move follows data showing the trade deficit has reached 1 billion euros per day as Chinese exports surge while European imports fall. European manufacturers, particularly in the chemicals and automotive sectors, warn they are nearing collapse due to state-subsidized overcapacity from Beijing. China has condemned the proposed de-risking measures as a disguise for protectionism, arguing that their supply chains are the natural result of market forces.
Member states remain divided, with some fearing a full-scale trade war while others prepare to finalize new supply-chain diversification rules later this month.
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