The well-known Chinese online news site Netease recently reported that the European Parliament officially urged EU trade officials to apply “drastically tough measures” against the low-price dumping strategy used by many of the Chinese exporters. EU Trade Commissioner Karel De Gucht is seeking amendments to the tools that are currently available to fight unfair trade. These tools were designed before China became a large exporter. The EU Parliament expected the new tools would be able to arm the small-sized EU companies to fight unfair trade behavior such as pricing goods below cost. Although the newly proposed regulations did not mention China, yet most of the trade conflicts that the European Union is suffering from are between the EU and China. The current daily China-EU trade volume is more than one billion euros. The potential retaliation from trade partners is still a big concern on the EU side. Karel De Gucht is calling for serious consideration of fairness and balance.
Source: Netease, February 6, 2014