The Asian giant’s “discriminatory” measures have sunk 80% of its trade relations with the European country
The European Union will take China to the World Trade Organization (WTO) over its trade sanctions against Lithuania. The Asian giant has taken restrictive measures against the country in retaliation for its rapprochement with Taiwan. The indictment also includes an indictment against China for failing to protect European patents on key technologies such as 5G.
In January and February, the European Commission tried to find a solution to these two issues which, in its view, “harm the economic and strategic interests of the European Union”. However, given the lack of progress, the Community institution has decided to refer the dispute to the corresponding body of the WTO, which will examine the matter on 20 December. In total, the process can take a year and a half.
Beijing’s punishments against Lithuania include the refusal to allow Lithuanian products through customs and the refusal of importation into the country. Chinese authorities have also “pressured” companies in other European countries to remove Lithuanian components from products exported to China. According to Brussels, these “discriminatory” measures have reduced 80% of this country’s trade relations with the Asian giant.
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
