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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI BRIEF: Draghi Calls For Tariffs, Subsidies Against China
The European Union will have to use subsidies and tariffs to protect its industries from Chinese and other global competitors, former European Central Bank President Mario Draghi said on a speech on Friday, giving advance details of his long-awaited report to be unveiled in mid- July.
While the EU should try to persuade other governments around the world to recommit to multilateral trade rules, it should also turn to "subsidies and tariffs to offset unfair advantages created by industrial policies and real exchange rate devaluations abroad", Draghi said referring to challenges from Chinese competition in sectors such as EVs and solar panels. (See MNI: Watered-Down EU Deal Points To Resistance To Draghi Plan)
Draghi's comments follow the European Commission's announcement that it would impose a preliminary average 21% weighted tariff on imports of Chinese EVs following an investigation into subsidies.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.