Will the EU finally get tough on China's 'existential' trade threat? Doubtful

The European Union is holding key discussions on Friday over whether to impose tariffs or other measures against Chinese imports. While symbolic action is likely, that action will likely be delayed and largely watered down. Assuming that is the case, European industries will remain victim to China’s endemic dumping of state-subsidized goods into their markets.

The EU’s trade deficit with China is likely to exceed $400 billion this year, with an EU official telling reporters this week that China’s “existential” dumping threat meant 29 million EU-based jobs could be lost. Although the problem is particularly acute in terms of Chinese electric vehicle exports, it extends across numerous sectors. But the EU’s alarm is long overdue.