EU signals emergency import curbs after dramatic surge in Chinese trade gap

The European Union is prepared to introduce emergency measures to combat China’s extraordinary export surge as new figures showed the trade gap had widened dramatically, its top trade enforcer said on Tuesday. Safeguard measures that permit tariffs and quotas to be enforced to combat sudden import surges may “become legitimate on a case-by-case basis”, Denis Redonnet told the European Parliament’s trade committee. Redonnet, the EU’s deputy director general for trade, added that the bloc had little expectation that Beijing would make structural changes to its economic model. “Structural rebalancing will not take place before October, what can we do before…