According to the Wall Street Journal, the European Union is working on a peace proposal to end its hostile trade relationship with the White House and avoid imposing steel and aluminum tariffs in two weeks.
According to the report, the core content of the proposal being considered by the European Union is: a miniature, simplified version of the transatlantic trade and investment partnership agreement (TTIP). It will meet a key demand from the trump administration earlier: lower European tariffs on American cars, accessories and industrial machinery. The tariff reduction may also apply to some U.S. agricultural products and medicines. In return, the EU will ask the us to allow EU companies to participate in US government procurement, which has been an obstacle in TTIP negotiations.
The report also quoted a German official as saying that the final agreement may include the EU's commitment to jointly participate with the United States in legal action against China by using WTO rules, and European governments will also promise to exert greater pressure on China in order to create a more level playing field for European and American enterprises and curb intellectual property theft.
The proposal represents a significant shift in the EU's position. At the end of last month, in order to win over Europe, the trump administration showed its willingness to restart negotiations and break the deadlock, on the condition that the EU needs to work with the United States to put pressure on China and compete with China in the field of trade. Previously, trump essentially froze TTIP negotiations after taking office.
In addition to the EU, which is considering joining forces, Australia has also joined the "team" of the United States. On April 17, the United States announced that it would launch an anti-dumping and countervailing investigation (i.e. double anti-dumping investigation) against steel wheel hub products made in China. The US Department of commerce also preliminarily ruled that there was subsidy behavior in general aluminum alloy plates imported from China. The Australian antidumping Commission also announced yesterday that it formally launched an anti-dumping and countervailing investigation against railway wheel hubs originating in China.
In the face of the latest trade provocation from Europe and the United States, China has once again made a big fist! China's Ministry of Commerce announced on Thursday that imports of halobutyl rubber originating in the United States, the European Union and Singapore were subject to dumping, causing substantial damage to the domestic halogenated butyl rubber industry and decided to implement temporary anti-dumping measures in the form of margin, the Ministry of Commerce said on Thursday. The Ministry of Commerce said on Thursday that China does not want the trade friction between China and the United States to escalate, but China has made any preparations to deal with it and will resolutely fight back. On April 17, China's Ministry of Commerce announced anti-dumping measures against sorghum imported from the United States.