European Leaders Confront Chinese Trade Shift
Chinese exports shift from US to Europe and Asia.
French officials seek coordinated plan to counter Chinese export threats.
US imposed heavy taxes on Chinese imports for 8 years, leading to export shift.
Trade surpluses reached $1.2 trillion last year due to export shift.
Beijing's share of global exports is 16%, highest in the world.
Chinese exports now compete with 58% of goods from 21 European nations.
Macron warned Chinese exports 'literally kill European industry'.
Obstfeld noted Beijing's overcapacity claims are slow to act.
EU may raise tariffs on Chinese imports to counter export surge.
Experts warn global protectionist response, including 35% EV levies, if Beijing doesn't scale back.
1 week ago