00:00The European Union is weighing new restrictions on Chinese imports,
00:04extending its trade push beyond cars to products from chemical to furniture.
00:10According to a Bloomberg report, the measures could come as early as the first quarter of next year.
00:17The reports said that the European Commission is looking to replicate its recent move to cap imports of Chinese hybrid
00:24vehicles,
00:24with a similar approach for other industries.
00:26The move comes as the EU seeks to address its trade deficit with China, which reached €360 billion last year.
00:34Brussels is seeking to support European industry,
00:37while avoiding retaliation from Beijing that could trigger a wider trade war.
00:41EU ministers said they want to resolve the imbalance through talks with Beijing,
00:45while keeping further trade restrictions on the table.
