EU beefs up powers to curb China s rise as trade deal prospects cool Today 05:20 am JST Today | 07:26 am JST BRUSSELS
The European Commission on Wednesday unveiled new powers to block state-backed companies from making unfair inroads into EU markets, as the bloc seeks new ways to respond to China s rise.
The new rules, when approved by member states and European Parliament, will give EU competition authorities fresh abilities to probe foreign companies seeking to snap up EU firms or public contracts.
The rules don t specifically mention China, but they land as ties between the EU and its second biggest trading partner are at a low point after an angry exchange of tit-for-tat sanctions over human rights concerns.
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Sputnik International
EU Beefs Up Powers To Curb China As Trade Deal Prospects Cool By Alex PIGMAN
05/05/21 AT 11:30 AM
The European Commission on Wednesday unveiled new powers to block state-backed companies from making unfair inroads into EU markets, as the bloc seeks new ways to respond to China s rise.
The new rules, when approved by member states and European Parliament, will give EU competition authorities fresh abilities to probe foreign companies seeking to snap up EU firms or public contracts.
The rules don t specifically mention China, but they land as ties between the EU and its second biggest trading partner are at a low point after an angry exchange of tit-for-tat sanctions over human rights concerns.