China presses the EU to issue a joint statement against US’s trade policies and the recent tariffs, at a Sino-European summit later this month. However, the EU is reluctant to proceed to such an action.
During meeting in Brussels, China proposed an alliance to EU, opening more its market as a gesture of good faith, Reuters reported. The proposal also included the launch of a joint action against the US at the World Trade Organisation.
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However, the EU rejected the proposal idea of allying with China against the US, ahead of a Sino-European summit on July 16-17. The summit will provide a modest communique, which will ensure the multilateral trading system between the countries and promises to establish a working group to modernise the WTO.
Despite the fact that the US has imposed tariffs on EU for metals exports and threatening to hit its automobile industry, EU just like the US is concerned about China’s closed markets. Under this, they think that the Chinese proposal is an attempt to manipulate the of trade and dominate global markets.
Another takeaway from this proposal is the fact that China is trying to take over leadership between the US and its European, Canadian and Japanese allies, over issues regarding free trade, climate change and foreign policy.
