EU Issues Threat to China Over Trade Gap – Amy Kazmin and Mure Dickie

From The :

Peter Mandelson, the commissioner, warned China on Thursday that the EU could be forced to use -dumping measures to defend itself against Chinese exports if failed to help reduce an “unsustainable” trade deficit rising by ‚Ǩ15m ($22.3m) an hour.

Mr Mandelson’s comments reiterated the call he made in Washington this month highlighting Brussels’ concern ahead of a Sino-EU summit in the Chinese next week.

European frustration with China’s limits on market access for companies and an exchange rate policy seen as undervaluing the renminbi has been fuelled by the growth of a trade deficit with China to ‚Ǩ86bn in the first seven months of the year. [Full Text]

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