Europe must stand up against trade bullies

"The EU's openness is our greatest source of prosperity. But we cannot allow this openness to be used to blackmail us or to restrict our policy space. Europe must stand up against trade bullies. Whereas ten years ago, this instrument would have been unthinkable, today it has become a necessity dictated by the weaponisation of trade", said Christophe Hansen MEP, EPP Group Spokesman for International Trade Policy. Today, the European Commission proposes new legislation to sanction foreign individuals, companies and countries by the Commission’s trade department without having to achieve a unanimous decision by the Member States. The result would be a quicker and more effective than ever trade defence tool - the so-called Anti-Coercion Instrument (ACI).

"The ACI is a necessary defence mechanism and a powerful deterrent in a world where trade weaponisation is becoming increasingly prevalent. We need it to protect ourselves, to promote our interests and to ensure the EU's geopolitical presence. Ultimately, it can help us to defend an open and multilateral global trade environment", stated Anna Michelle Asimakopoulou MEP, who will negotiate the Anti-Coercion Instrument in Parliament on behalf of the EPP Group.

Hansen cautioned: "Nevertheless, we do not want this instrument to open a global trade arms race and strengthen protectionist tendencies. It must be a deterrent before all, and remain fully aligned with the rules of the World Trade Organisation. Nor should it be used as a catch-all foreign policy instrument. Sufficient safeguards must be built in to avoid mission creep and to ensure that it is only activated as a last resort, when all other avenues are closed and consultations have failed."