China Warns of Retaliation If Europe Raises Trade Barriers

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China will take countermeasures if the European Union (EU) raises trade barriers against it, the Chinese Ambassador to the EU said.

According to AFP, Ambassador Cai Run issued a warning during an event in Brussels, Belgium, on June 24 (local time), emphasizing the need for expanded cooperation while stating that China would take corresponding actions regardless of the measures the EU might adopt.

Ambassador Cai stated, "The two sides are partners, not rivals, and certainly not enemies," adding that the EU and China "have the capacity to resolve differences and frictions in economy and trade through dialogue."

He added, "We oppose politicizing economic and trade issues and overstretching the concept of security."

He also stated, "We oppose taking restrictive measures against China under the pretext of 'de-risking' and 'reducing dependency.'"

Ambassador Cai warned, "If the EU insists on such measures, China will have to take corresponding countermeasures to defend its legitimate interests."

Ambassador Cai's remarks came ahead of the visit to Brussels by Chinese Minister of Commerce Wang Wentao on June 29.

Minister Wang is scheduled to meet with Maroš Šefčovič, the European Commissioner for Trade and Economic Security, to seek solutions to address trade imbalances.

Last year, the EU recorded a deficit of 360 billion euros (approximately 634 trillion KRW) in goods trade with China, a 15% increase from the previous year.

As the astronomical deficit, amounting to 1 billion euros (approximately 1.7 trillion KRW) per day, continues to grow, calls within the EU to resolve the trade imbalance with China have recently intensified, heightening tensions between the two sides.

At the EU summit held last week, member states urged the European Commission to adopt a "two-track" strategy: continuing dialogue to resolve trade conflicts with China while simultaneously preparing stronger measures to respond to the surge in Chinese imports.

(Photo: Getty Images)

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