China approaches France – economy

China is approaching France in the face of a looming trade dispute. Foreign Minister Wang Yi pledged to import more high-quality products and services from the EU country at a press conference with his French counterpart Stéphane Sejourne on Monday. At the same time, he signaled that he would address French companies’ concerns about market access. “We are constantly in the process of easing market access, including promoting cross-border data flows,” Wang said.

The European Union is currently considering introducing punitive tariffs on Chinese cars, not least at the instigation of France, in order to protect the domestic industry. It is currently being investigated whether Chinese electric car manufacturers benefit from subsidies that distort competition. The investigation is expected to be completed this year. In response, China launched an anti-dumping investigation in January into brandy imports from Europe, the vast majority of which come from France.

China’s trade minister will travel to Europe this month accompanied by representatives from market-leading automakers BYD, Saic and Geely to discuss the EU Commission’s investigation, Reuters has learned from insiders. Europe is currently pursuing a de-risking strategy to reduce dependence on China. Wang said he hoped that European policies would not be directed against specific countries and would not violate World Trade Organization rules (WTO) violate. A decoupling from China is the biggest risk.