German Auto Association Warns of China Trade Imbalances, Urges WTO-Based EU Response
VDA President Highlights Trade Concerns and EU Response Options
Warning on Growing Trade Imbalances with China
Sept 24 (Reuters) - The head of Germany's auto industry association VDA on Thursday warned of growing trade imbalances with China, saying the EU has tools to safeguard fair competition if WTO rule violations lead to market distortions.
Approach to Resolving Trade Differences
Preference for Dialogue
While differences should be resolved through dialogue, these tools can be deployed once competition has been distorted beyond a certain point, VDA President Hildegard Mueller said in a statement.
Industry Consultation
Any measures must be assessed in close consultation with the affected industry.
Risks of Protectionism and Isolationism
Potential for Escalating Trade Disputes
"Isolationism and protectionist measures always carry the risk of escalating trade disputes," Mueller said.
Media Coverage and Endorsement of Tariffs
Handelsblatt Report
Handelsblatt had reported Mueller's explicit endorsement of imposing new tariffs on China under certain conditions earlier on Thursday.
Reporting Credits
(Reporting by Rachel MoreWriting by Linda PasquiniEditing by Kirsti Knolle and Friederike Heine)
