The EU is and wants to remain the biggest trading bloc in the world. But trade must be based on fair conditions. The EU accounts for 15% of world imports (second only to the United States), yet the EU's trade defence measures correspond to only 7,8% of those in place worldwide and affect a mere 0,21% of the imports. When it comes to implementing measures to defend jobs on its territory, no trade bloc exercises a similar level of self-restraint, due to the limitations imposed by the current legislation.
The necessary modernisation of trade defence instruments can be achieved through the swift adoption of the proposal tabled in 2013.
President Jean-Claude Juncker said: "Trade is essential for our economic growth and jobs creation, but we should not be naïve. Our current rules are proving insufficient to combat the harm from unfair foreign competition. Some EU industries have lost thousands of jobs. We cannot stay idle. The EU's trade defence rules require an urgent update. The Commission has been doing its part, deploying trade defence instruments to their full force. But we have reached the limit of what is feasible under the existing legislation. We put forward measures that would significantly improve our room for manoeuvre. It's now high time for Member States to make the necessary decisions and equip the Commission with instruments fit to deal with the current realities of the international trading environment."
Vice-President Jyrki Katainen said: "Trade policy is one of the biggest assets of the EU to provide jobs, growth, and investment. 30 million jobs are directly related to our exports. This has increased by two thirds during the past 15 years. We have impressive results from the recent trade deals: The Korean deal has brought in five years a 55% increase in EU exports, increasing their value by €15 billion. This has brought more than 200 000 jobs to the EU. Our prosperity and welfare depend on trade. Free trade must be fair, and only fair trade can be free."
Commissioner for Trade Cecilia Malmström said: "Trade is key for growth and jobs in Europe. We have an ambitious agenda to open markets and create business opportunities and advantages for citizens and businesses. Trade also needs the trust of the public. That is a reason for why this Commission tirelessly works for inclusive, transparent, fair and value-based trade."
In a dedicated Communication entitled 'Towards a robust trade policy for the EU in the interest of jobs and growth', the Commission also outlined how a new anti-dumping methodology which the Commission intends to propose would be used to address situations where market conditions do not prevail, while dealing with forthcoming changes to the legal framework of the World Trade Organisation (WTO).
The adoption of these changes - while respecting WTO rules - would allow the EU to impose higher anti-dumping duties in some instances, for example where there are massive production overcapacities in exporting countries. Furthermore the new envisaged anti-dumping methodology would allow the EU to capture market distortions linked to state intervention in third countries that mask the true extent of dumping practices.
Full press release
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