The European Union (EU) is expected to announce strict economic measures aimed at China and other countries accused of financial bullying.
According to a drafted proposal, the measures to combat economic coercion would target those countries trying to interfere with the EU’s legitimate sovereign options or those of one of its 27 member states.
Tariff increase and suspension of access to European markets via quotas or business licenses are examples of sanctions that the EU can impose.
The countries engaging in economic coercion could be barred from participating in the EU’s supply chain. They face the risk of being quarantined before entering the EU’s food market.
The EU’s move comes after China was accused of obstructing Lithuanian exports after this EU member allowed Taiwan to build a representative office in Vilnius on Nov. 18.