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  HOME | Business & Economy (Click here for more)

China Accuses EU of Hypocrisy over Its New Trade Defense Rules

BEIJING – China criticized the European Union again on Thursday over its new trade defense regulations and accused the bloc of flouting World Trade Organization regulations.

The EU has “taken discriminative and unfair measures under various pretexts against China,” said foreign ministry spokesperson Hua Chunying in a press conference.

The new EU rules to combat unfair trade practices came into effect on Wednesday and would help identify cases of dumping or products imported below their cost of production in order to drive out competition.

Hua accused the EU of double standards as it had made no mention of its own violation of WTO rules.

“We urge the EU to abide by the relevant rules... and to avoid abuse of trade remedy measures,” she added.

The Chinese ministry of commerce, which on Wednesday had released a statement accusing the EU of violating WTO regulations with its new rules, criticized the bloc again at a different press conference.

Spokesperson Gao Feng said Beijing was opposed to the EU imposing its own criteria on what constitutes market distortion.

Gao also said economic ties between Beijing and the EU was strong with trade between the two climbing 12.7 percent year-on-year to $556.7 billion in the first 11 months of the year.

Chinese imports of EU products also increased by 17.8% during the same period, as compared to the 9.8% increase of Chinese products exported into the EU.

Gao asserted Beijing would take necessary measures to defend its rights in the WTO.

 

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