At the G7 summit in Evian-les-Bains, France, leaders are discussing the new threat to the European economy — Chinese export aggression. This was reported by Qazaqyia.kz citing Associated Press.
French President Emmanuel Macron and European Commission President Ursula von der Leyen discussed the impact of cheap Chinese exports on European industry. China is ramping up production of steel, aluminum, electric vehicles, and other goods, putting pressure on European manufacturers.
German Chancellor Friedrich Merz expressed concern over the trade imbalance with China. According to him, Chinese export prices distort the market and threaten European jobs.
The European Commission is investigating Chinese electric vehicles and considering additional tariffs. US President Donald Trump also continues to raise tariffs against China.
Experts warn that China's export strategy could intensify the global trade war and undermine world economic stability.