OREANDA-NEWS  Germany and France have called on the European Union (EU) to develop a mechanism that would immediately block China's access to the unification market. This was reported by Bloomberg, citing sources.

Brussels needs such a tool in case of a full-scale trade war with China. In particular, it can be used in a situation where Beijing blocks all exports of rare earth metals, on the availability of which the development of modern technologies in the European Union depends.

According to the authors of this initiative, the European Union is currently facing unprecedented challenges, with some countries using trade as a weapon and distorting markets.

In addition, Paris and Berlin believe that the EU should more actively investigate cases of unfair competition. For example, we are talking about imports, the production of which is actively subsidized by the state. This applies to segments such as the chemical industry, plastics manufacturing, and hybrid vehicles. Based on the results of such investigations, new tariffs may be introduced.

In September, European Commission President Ursula von der Leyen said that the EU's trade deficit with China had reached one billion euros per day. According to her, the situation has reached a critical point and the EU is facing deindustrialization.