Germany and France agree new trade tool to counter China

AI Summary

Germany and France are urging the EU to create a rapid-response trade tool to counter market distortions attributed to China. Their proposal would also support retaliation planning and overhaul the bloc’s trade-defence measures.

Paris and Berlin call for a new EU "systemic reaction" tool that would let Brussels move fast to counter China-driven market distortions, as well as retaliation planning and a revamp of trade defence tools.