According to the Wall Street Journal, quoting European officials, the European Union is working on a peace proposal to end trade hostility with the White House and avoid imposing steel and aluminium tariffs two weeks later.
According to reports, the core content of the proposal being considered by the EU is a miniature, simplified version of the Transatlantic Partnership Agreement on Trade and Investment (TTIP). It will meet the key requirement of the Trump administration: lower European tariffs on American automobiles, accessories and industrial machinery. Tariff reductions may also apply to some U.S. agricultural products and medicines. In return, the EU will require the United States to allow European companies to participate in U.S. government procurement, which has been an obstacle in TTIP negotiations.
The report also quoted a German official as saying that the final agreement might include a commitment by the European Union and the United States to jointly participate in legal actions against China using WTO rules. European governments would also pledge to exert greater pressure on China in order to create a fairer competitive environment for European and American enterprises and curb knowledge. Power theft.
These proposals mean that the EU has changed its position dramatically. At the end of last month, the Trump administration signaled its willingness to resume negotiations and break the deadlock in order to attract Europe, provided that the EU cooperates with the United States to exert pressure on China and compete with China in the field of trade. Earlier, Trump essentially froze TTIP negotiations after taking office.
In addition to the EU, which is considering joining forces, Australia has joined the U.S. Army. On April 17, the United States announced an anti-dumping and countervailing investigation on steel hub products from China (i.e. a "double-countervailing" investigation). The U.S. Department of Commerce also initially ruled that there was a subsidy for general aluminum alloy sheets imported from China. The Australian Anti-dumping Commission also issued a notice yesterday formally launching an anti-dumping and anti-subsidy investigation on railway hub originating in China.
Faced with the latest trade provocations from Europe and the United States, China is once again playing a heavy fist! China's Ministry of Commerce announced Thursday that imports of halogenated butyl rubber originating in the United States, the European Union and Singapore had been dumped, causing substantial damage to the domestic industry of halogenated butyl rubber, and decided to implement temporary anti-dumping measures in the form of margin. The Ministry of Commerce said on Thursday that China does not want to escalate trade frictions between China and the United States, but that China has made any preparations and will resolutely fight back. On April 17, China's Ministry of Commerce announced anti-dumping measures against imported sorghum from the United States.
