MNI BRIEF: Chinese Exports Jeopardise EU Industry--Le Maire

China’s increased industrial capacity to export goods to other parts of the world in the wake of the latest U.S. tariffs “jeopardises Europe’s efforts for reindustrialisation”, especially in the green industry, French Finance Minister Bruno Le Maire told journalists on Friday.

“Behind this is a different model of Chinese cheap goods to sell to the European market”, Le Maire said, pointing to EVs, batteries and solar panels as example adding to voices calling for a common G7 response. (See MNI EM: EU Tariffs On China EVs Seen Higher After U.S. Move)

Ways to improve European productivity were also discussed in the meeting taking place in Stresa, Italy, and Le Maire said it was important to avoid a widening gap between the U.S. and Europe. The EU needs to spend less time on regulation and more on fostering innovation, the minister said.