EU, U.S. Hail Closer Approach Toward PRC
The European Union and the United States are “increasing alignment” in their approach toward the People’s Republic of China (PRC), especially regarding microchips, supply chains and green technology.
“What we’ve seen over the last three years is increasing alignment in our approaches to these issues. And when the United States and the European Union are aligned, when we’re working in common purpose … it makes a big difference,” U.S. Secretary of State Antony Blinken said in April 2024 after an EU-U.S. meeting on trade and technology in Belgium.
The EU and U.S. represent about one-third of global gross domestic product, while the PRC represents about 16%, calculated on purchasing power parity.
During an April 2024 visit to the PRC, U.S. Treasury Secretary Janet Yellen warned that Beijing’s subsidies for industry could pose a risk to global economic resilience. She expressed concerns about Beijing’s “overcapacity” undercutting other countries’ companies.
In “very complicated geopolitical circumstances,” the EU and the U.S. must work together as strategic allies, EU Trade Commissioner Valdis Dombrovskis said.
Agence France-Presse
