Maroš Šefčovič, Slovakia’s Commissioner-elect for Trade and Economic Security, has no interest in waging trade wars with the United States and wants to further strengthen economic relations. In the case of China, he will want to be instrumental in setting fair trading conditions for European companies.
In recent days, in the context of Donald Trump’s re-election to the White House, there have been discussions about a possible trade war with the US. However, Šefčovič said that the European Union has “absolutely no interest” in waging trade wars.
The EU currently has strained trade relations with its third largest trading partner, China. Here it will be important for Šefčovič to set “fairness in trade relations for companies” in the 27-member bloc so that they are on a level playing field with those from China, which the EU accuses of non-market subsidies. If Beijing does not abide by the Union’s terms, a so-called set of defensive economic instruments is being drawn up for it to use.
“These are trade relations that have an absolutely crucial impact on the health of the European economy,” said the Slovak Commissioner, who will also oversee inter-institutional relations and transparency in the new Commission. He will also focus on a major reform of the Customs Union, including a complete digitisation and the creation of a new database.
Source: TASR
