Brussels – There is a lot of work to do, but in all that will follow, “it is important to avoid a confrontation, a trade war.” Teresa Ribera, Commissioner-designate for Competition, espouses the line of caution and hints that she is ready to discuss a ‘peace’ with China. She also talks about this in an interview with the Financial Times. The issue of EU tariffs on Chinese electric vehicles is more than on the table. Today (Sept. 19), the Chinese trade minister is in Brussels to discuss tariffs on the ‘made in China’ eco-friendly four-wheeler with the Commission.
The real challenge is “identifying the best tools to develop the automotive industry in Europe, but also effective in preventing this trade war,” Ribera explains to the FT. All of this “is something the Commission services and industry stakeholders are already considering,” she noted. As the EU and the European Commission, “we need to make sure that we have a proper level playing field in Europe as far as trade rules are concerned and at the same time avoid a clash, a conflict, a trade war with other countries,” she continued.
Among the useful tools in the not-simple game underway, Ribera looks to the EU mergers and concentration regulations. She believes the key to making the EU competitive and avoiding being squeezed between China and the United States lies there. The new EU competition chief, if confirmed in this capacity first by Parliament’s Legal Committee and then by the House, promises that merger rules will “evolve” to help European companies build scale to take on global rivals.
The basic idea is to pave the way for the creation of ‘European champions,’ large groups capable of progressing what is needed to make the twin transition an industrial, technological, and innovative success. She will be the one to work on it, indicating already the course she intends to follow.
English version by the Translation Service of Withub
