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EU Says It Is a Partner Rather Than a Problem in U.S. Overcapacity Investigation
Investing.com – The European Union on Thursday rejected claims that it is contributing to global manufacturing overcapacity, following the United States’ initiation of an unfair trade practices investigation against the EU and 15 other trading partners.
A spokesperson for the European Commission stated that the EU and the US share concerns over structural overcapacity in the global economy but emphasized that Europe is not the root cause of the problem.
The EU positions itself as a market-driven economy with open markets and transparent policies, and sees itself as a partner rather than a creator of global distortions.
“The EU is a market-driven economy with open markets and transparent policies. Therefore, the EU does not see itself as a manufacturer of structural overcapacity but as a partner in addressing global distortions,” the spokesperson said.
The European Commission spokesperson added that the EU has not received any signals indicating that the US intends to deviate from its commitments under existing US-EU trade agreements. The spokesperson reiterated the expectation that the US will fully honor the agreement.
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