The Chair of the European Round Table for Industry (ERT), Sir Jonathan Symonds CBE, argued on Tuesday at the Forum Europa in Brussels for a “nuanced and sector-specific” approach to the EU’s trade policy with China, on the grounds that a one-size-fits-all tariff policy could have more negative consequences than benefits.
During his speech at this event organised by New Economy Forum in the EU capital, Symonds argued that “we must be very careful that, in trying to protect Europe, we do not inflict greater harm through retaliatory measures against China”.
For this reason, he said that the ERT does not have a blanket position on trade policy with China and prefers to take a sector-by-sector approach.
According to Symonds, the relationship with the Asian giant will be one of the “defining issues” on the agenda for the EU and its businesses over the next decade. In his view, China has already amply demonstrated its capacity and competitive edge in cutting-edge sectors, and Europe must stand up to it by firmly backing large-scale companies, investing in strategic technologies and promoting professional talent.
As for the EU’s relationship with the United States, the ERT believes that maintaining good relations with that country must remain an essential priority, particularly as the companies represented on the board have a significant presence there.
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