16:52 - 4.04.2025
April 4, Fineko/abc.az. The European Union is preparing to take emergency measures against goods from China, as it may be overwhelmed by a wave of cheap goods from Asia due to increased US duties, ABC.AZ reports, referring to the Financial Times.
Such a development, analysts warned, could worsen the already difficult situation of the EU. Robin Winkler, chief economist at Deutsche Bank, said that the trade shock experienced by Asia due to Washington's tariffs is likely to affect Europe. Having lost the American market, Chinese manufacturers will try to sell more of their products in the EU. This means that Brussels will have to take protective measures, especially since it has already imposed duties on Chinese electric vehicles.
France urges the EU not to respond with mirror measures to the US tariffs. France's finance minister says the introduction of similar countermeasures in response to Trump's new tariffs could negatively affect EU consumers.
JPMorgan estimates the probability of global recession at 60% if tariffs remain in place. At that, many experts believe that Trump is bluffing and will make a deal with many countries.
