Why von der Leyen doesn’t want to join the US in a trade war with China

Excellent morning. Ursula von der Leyen has laid out her financial concepts for a possible 2d time period as Ecu Fee president, telling the Monetary Occasions that she is observable to discussions over each making concord and agricultural bills from the EU price range — use some €100bn a yr — conditional on reform and funding goals, and to talks on unused joint borrowing. Learn the overall interview right here.

Nowadays, I’ve extra from von der Leyen on tips on how to do business in with China, and our Austria correspondent experiences on allegations in opposition to the rustic’s chief Inexperienced celebration candidate for the Ecu elections.

This night, pay attention von der Leyen and her primary election opponents hit over the while financial course of the EU, in a unique Bruegel-FT leaders’ debate in Brussels and on-line. Enroll right here.

Move EUr personal manner

As Washington imposes sweeping price lists on Chinese language imports, and Beijing hits again in opposition to Brussels’ business probes, Ursula von der Leyen has unwelcome the concept that the west is already in a business warfare with China — and nixed the chance of the EU becoming a member of the USA on one facet of the barricades.

Context: Beijing on Sunday introduced an anti-dumping probe in opposition to chemical imports from the USA and EU, days upcoming the White Area jacked up import price lists on Chinese language inexperienced applied sciences. Brussels has opened investigations into allegedly unfair subsidies of Chinese language sun panels and electrical cars.

Von der Leyen, talking because the supremacy candidate of the centre-right Ecu Public’s celebration at upcoming moment’s Ecu parliament elections, denied the EU used to be already in a business warfare in opposition to China, and mentioned Brussels’ manner must be “different” from the USA.

“Let’s say we share some of the concerns of our American counterparts. [But] our approach is different. The Americans have just applied blanket tariffs,” she advised the FT. “We want competition, we want to trade together, but we want it to be fair and by the rules.”

“We see China, for example . . . producing massive overcapacity with artificially cheap products and flooding our market, and our companies having problems to access the Chinese market under fair conditions,” she added. “And we see the topic of forced technology transfer. These are topics that are of concern.”

Von der Leyen mentioned she anticipated the EU probe introduced extreme September would conclude that Chinese language electrical cars have benefited from “excessive production subsidies”, and that the reaction could be “that the level of duties would correspond to the level of damage done”.

“So it’s a more differentiated, targeted approach [than the US] . . . we want to signal, it’s not about closing the market or protectionism,” she added. “We want to de-risk, not decouple [from China]. And now we’re developing the toolbox.”

Chart du jour: Feeling the ache

The people temper in complex international locations left-overs low as families reel from the price of residing extremity.

Gossip lady

A scandal involving Austria’s chief Inexperienced candidate for the EU elections and her allegedly unsure dating with the reality has been dominating native headlines over the year while, writes Sam Jones.

Context: Lena Schilling looked to be the easiest candidate. The charismatic and photogenic 23-year-old environmental activist from the Fridays For Age motion used to be intended to word of honour a spice up for Austria’s Vegetables, the minority spouse in Austria’s coalition executive.

However previous this moment, revelations by way of Austrian newspaper Der Usual threw that each one into indecision.

The newshounds exposed that the younger Inexperienced signed a cease-and-desist declaration in the case of statements she made about two former buddies, a activist couple. Schilling had advised others that the person within the couple used to be beating his spouse who suffered a miscarriage because of this, which the spouse referred to as “lies”.

Alternative circumstances have been cited: Schilling used to be accused of wrongly claiming to have had an affair with a journalist, hanging his occupation in danger, and a senior baby-kisser needed to surrender as a result of rumours allegedly unfold by way of Schilling.

Schilling has mentioned the assaults are an unjustified intrusion into her non-public time supposed to distract from her political credentials.

Celebration bosses have stood by way of her. Endmost while Inexperienced chief Werner Kogler brushed aside the accusations as “grumbling and farting” from jealous political opponents.

However electorate appear to have misplaced religion within the Inexperienced prodigy. Schilling is now one of the vital least relied on politicians within the nation, consistent with polls.

Complaint has come most commonly from the left — such a lot in order that the Vegetables extreme while won an not likely supporter: Harald Vilimsky, supremacy candidate for the far-right Self-government celebration, in a TV debate defended his younger rival because the sufferer of a invisible and nefarious broad status quo.

What to observe lately

EU normal affairs ministers meet in Brussels.

EU-Moldova affiliation council

EU telecommunications ministers meet.

Now learn those