0:00
Well, that, as Europe considers it, is exactly how it will react
0:04
with targeted measures set to be unveiled next week. There are real fears as well in Europe that if China cannot sell its products in the US
0:12
China may try to sell them off here cheaply instead. Earlier we spoke to our correspondent Dave Keating in Brussels
0:20
Yesterday we had a phone call between EU president Ursula von der Leyen
0:25
and the Chinese premier, specifically about how to avoid dumping of products from China
0:30
So that would be products that China was intending to—Chinese companies were intending to export to the United States
0:36
Many will now be diverted, and a lot will come here to the European Union. And if they all get dumped onto the market, that could be a major problem
0:43
So the commission is setting up emergency measures right now to watch for that dumping
0:47
And if they see it happening with certain products, they'll put in policies to stop the flow of those products
0:52
but they want to work with China on preventing that from happening. A very interesting readout yesterday from that call between the EU leader and the Chinese leader
1:00
talking about cooperation to uphold the global trading order. Of course, the U.S. has been pressuring the EU to adopt an aggressive stance against China for the past years
1:13
The EU has largely complied, but now with the U.S. adopting an aggressive stance toward the EU
1:18
we're seeing the EU and China growing closer together. Yesterday's call was an illustration of that
1:24
And the EU does have options to increase its trade with China, with India, with Brazil, with all kinds of countries
1:31
Even in the past couple of days, I've heard people saying the EU should quickly drop its sanctions on Russia
1:36
because the U.S. is abandoning them, which is an interesting take. So certainly the EU has other options here, and that remains a threat that they can say to the U.S.
1:45
look, everyone is just going to stop exporting to you unless you drop these global tariffs
