EU Discusses Trade Relations Amid Declining Competitiveness
Hungarian Foreign Minister raises concerns over EU's handling of trade policies with the US and China.
On Monday, government representatives from European Union member states convened in Luxembourg to discuss trade relations with the United States and China.
Hungarian Minister of Foreign Affairs and Trade, Péter Szijjártó, indicated during the meeting that the bloc's competitiveness has deteriorated significantly in recent years due to what he described as ineffective policies emanating from Brussels.
He characterized the EU's past role as a major player in the global economy and international trade, highlighting a concerning decline attributed to inappropriate security and economic policies implemented by EU authorities.
Szijjártó emphasized that the politicization of economic issues has placed European companies in a precarious position, complicating their operational capabilities.
He specifically criticized the European Commission for failing to establish a robust customs cooperation with the United States following the introduction of tariffs targeting the Chinese electric vehicle industry, a measure that has faced opposition from European automakers.
He asserted that a straightforward solution existed: reducing tariffs affecting the automotive industry, which constitutes a vital sector for both the European and American economies, would have benefitted all parties involved.
The discussions in Luxembourg come against a backdrop of increasing tensions in global trade dynamics, particularly between notable economies, and signal the EU's attempts to recalibrate its approach to international trade relations.
Hungarian Minister of Foreign Affairs and Trade, Péter Szijjártó, indicated during the meeting that the bloc's competitiveness has deteriorated significantly in recent years due to what he described as ineffective policies emanating from Brussels.
He characterized the EU's past role as a major player in the global economy and international trade, highlighting a concerning decline attributed to inappropriate security and economic policies implemented by EU authorities.
Szijjártó emphasized that the politicization of economic issues has placed European companies in a precarious position, complicating their operational capabilities.
He specifically criticized the European Commission for failing to establish a robust customs cooperation with the United States following the introduction of tariffs targeting the Chinese electric vehicle industry, a measure that has faced opposition from European automakers.
He asserted that a straightforward solution existed: reducing tariffs affecting the automotive industry, which constitutes a vital sector for both the European and American economies, would have benefitted all parties involved.
The discussions in Luxembourg come against a backdrop of increasing tensions in global trade dynamics, particularly between notable economies, and signal the EU's attempts to recalibrate its approach to international trade relations.
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