Once again, the European Union (EU) demonstrates that it is willing to go to bat for its manufacturers and workers when it comes to countering China’s unfair trade practices.  It’s embarrassing that our own government won’t do the same. 

Yesterday, EU trade commissioner Peter Mandelson took umbrage with China’s growing trade surplus, saying “I am looking for China to do more to remedy the imbalances that exist.”  Mandelson told Reuters that the EU-Beijing relationship “is already a large one and it is potentially a huge one.”  But the lopsided trade balance means that China needs to “get it right” regarding their intervention in financial markets.

The EU has traditionally been more easygoing in its dealings with China. But the EU86 billion deficit they’ve accrued with China this year has pushed their Worry button.  As Mandelson explained, “It’s a question of China exercising greater responsibility and being more conscientious in shouldering their fair share of the demands of this trading relationship.”

Congress and the Administration shouldn’t have to take guidance from the EU on holding China accountable for its unfair and illegal trade practices.  They should both act now, before more manufacturing jobs disappear.

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This entry was posted on Monday, October 22nd, 2007 at 7:37 pm and is filed under Holding China Accountable, Currency Manipulation, Enforcing Trade Laws. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.