Leading European automakers have repeatedly voiced their opposition against the additional tariff plan. Prominent European political figures, including German Chancellor Olaf Scholz, also opposed the tariff hikes, calling for free trade. As major open markets and proponents of globalization, China and the EU have industrial, supply and value chains that are intricately interwoven, rendering them mutually indispensable. But in light of their economic structure and sheer size, China and the EU are best served by teaming up on major economic and trade issues. The trade and economic relations between the EU and China are at an important crossroads, and it is crucial for the EU to demonstrate a strategic and long-term vision.

Source: The Star June 12, 2024 18:43 UTC