Brussels (Brussels morning Newspaper) – Teresa Ribera, the EU’s vice president for the clean transition, told AFP that the European Union aims for “fair competition” with China, not a race to lower wages and environmental standards.
There are significant tensions regarding economic ties between the EU and Beijing. Brussels fears that extensive state subsidies might lead to a manufacturing oversupply, increasing the trade deficit and flooding European markets with inexpensive Chinese products that could undercut local companies.
During a visit to Beijing before a significant EU-China summit later this month, Teresa Ribera, the Executive Vice-President of the European Commission for Clean, Just and Competitive Transition, rejected China’s assertions that the EU was practicing “protectionism”.
Why does the EU reject claims of protectionism?
“We Europeans don’t want to go down a race towards low incomes, lower labour rights or lower environmental standards,”
StatedRibera, who also functions as the bloc’s competition chief.
“It is obvious that we could not be in a good position if there could be an … over-flooding in our markets that could undermine us with prices that do not reflect the real cost,”
She stated.
Will EU tariffs hurt global green energy goals?
In October, the EU implemented additional import tariffs reaching up to 35 per cent on Chinese electric vehicle imports and launched investigations into Chinese-owned solar panel manufacturers. When asked if these EU actions against Chinese green energy companies might impact the global shift to sustainable energy renewables, Ribera stated:
“It is fair to say that, yes, we may benefit in the very short term.”
However, she also warned that
“it could reduce the opportunities for long-term investments in the EU’s future.”
How does Trump’s trade threat affect EU-China ties?
Ribera’s visit occurs amid China’s efforts to strengthen ties with the European Union, aiming to counterbalance the influence of the United States. President Donald Trump has unsettled the global order and withdrawn from international climate agreements.
“I don’t think that we have witnessed many occasions in the past where a big economy, a big country, decides to isolate in such a relevant manner,”
She said.
“It is a pity. The Chinese may think that the United States has given them a great opportunity to be much more relevant in the international arena,”
Ribera expressed
