20:11 GMT +329 March 2017
    Chinese Premier Li Keqiang, center, gestures to European Council President Donald Tusk, left, and European Commission President Jean-Claude Juncker during a signing ceremony at an EU-China Summit meeting in the Great Hall of the People in Beijing Tuesday, July 12, 2016

    Message to Trump: EU to Hold Free Trade Summit With China

    © AP Photo/ How Hwee Young
    Get short URL

    In response to the White House’s rising economic nationalism, the European Union brings forward a summit with China to promote free trade and international cooperation.

    According to EU officials, the annual summit, usually held in mid-summer, may take place as soon as April or May in Brussels at the request of Beijing amid escalating economic conflicts with the US.

    The EU believes China intends to use the summit as a demonstration of Xi Jinping's rousing endorsement of globalization and multilateralism in the wake of the new US President Donald Trump's insistence on ‘America first' policies.

    "With an early summit, China wants to send a message to the United States that it has friends in Europe," one official, who helps formulate EU policy, was cited as saying by Reuters.

    Europe itself is preparing for countermeasures if Trump follows through on his ideas including a plan to overhaul the US corporate tax system by taxing US companies' domestic sales and imports, while exempting their exports.

    Jyrki Katainen, the European Commission vice-president who oversees EU trade policy, said in a recent interview that the EU would have no other option but to act against the US if it decided to take steps against the union's interests or "against international rules in trade".

    The EU may still be concerned about the direction of its second-largest trading partner, yet China's vocal support for a strong, stable Europe and international institutions such as the United Nations becomes more important for the union at the time of Trump's inward-looking stance.

    "With this drive by some countries to undermine or weaken international institutions, we would want to see China supporting and believing in the United Nations, the World Trade Organization," a second EU official said.

    "If China wants to help uphold the rules-based global order, then we welcome that," said a third EU official. "But we also say: let's see some concrete steps."

    On Wednesday, President Trump  met with a group of executives from big-name retailers such as Target and Best Buy, as the industry leaders made the case that they believe a tax reform would inflict damage on their businesses.    


    No Thanks: China 'Would Get Indigestion' From Involvement in Failed TPP Project
    China Accounts for 80% of Syria's Foreign Trade - Syrian Ambassador to China
    Some 5,000 Chinese Militants Fight in Syria - Syrian Ambassador to China
    tax, trade deal, Xi Jinping, Donald Trump, United States, China, EU
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment

    All comments

    • avatar
      Overreaction. All this taxes will have to FIRST be advised as legal and then proposed as binding.
      Congress may repel them. U.S is NOT a presidential democracy. As is Russia,
      And still in Russia Parliament sanction it.
      E.U in China is NOTHING NEW. Freer TRADE? Until E.U gets the same U.AS issue. China cup will be full, E.U's will be near empty.
      Easy how much to build a car in E.U? And in china? Is a BIG DIFFERENCE.
      The first thing is not the total cost but infrastructure costs. Gas, power, lands, and local taxes and costs of materials, LOCALLY.
      No doubt in Europe they will be OFF SCALES.

      So don't go hyping so much. History tends to repeat itself. And a war in Europe could take place. to return the LOST GLORY DAYS of U.S.
    • avatar
      Can those EU dunderheads do nothing but bellow worthless tripe?
      One would think they are important to the US and not the other way around.
    • avatar
      With their productive abilities, China has tens of thousands of warehouses filled with their own goods. The will look at any project that relieves them of the imploding situation they have created. You cannot keep paying of your workers, at the end of the week, in the same goods they have been producing. I mean, just how man microwaves does a household need? Try selling one of those in a garage sale, and you will be charge with "economic corruption."
    • avatar
      Where the EDIT feature went? I made typo's because I was in a hurry earlier and wanted to correct them.
    • avatar
      michaelin reply tocast235(Show commentHide comment)
      cast235, I think that it depends how long ago you were making the comment. We were talking about this, about six months ago but I can't remember the details...sorry. :) maybe an hour???
    Show new comments (0)