France and Germany propose new rapid EU trade response tool
EU flags flutter in front of the European Commission headquarters in Brussels, Belgium October 2, 2019. REUTERS/Yves Herman/File Photo
France and Germany have proposed that the European Union toughen itself up with a new measure that could be activated rapidly to strike back against countries that harm the bloc economically in a new world where trade is increasingly used as a weapon.
The new measure would not target any specific country. German officials said the EU needed a tool as powerful as the Section 301 tariffs imposed by the United States or China's restrictions on exports of critical minerals.
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