EU to develop new tools to tackle unsustainable trade deficit with China: Report

New Delhi, June 21 European Commission President Ursula von der Leyen has said that the European Commission will develop new tools to counter macroeconomic imbalances, most notably the “growing and unsustainable” trade deficit with China, according to a report. Von der Leyen said the diversification instrument would be country-agnostic, focusing on helping European companies in specific sectors de-risk faster, as supply chain diversification has so far been too slow, according to Euronews. “Europe has already built an extensive toolbox in recent years. Now we must use it more proactively and more strategically to defend our European interests,” she said at…