00:02China's ambassador to the EU, Cairo, threatened on Thursday to retaliate if the EU adopted unilateral measures against Chinese interests.
00:11The statement came as the European Commission is working on a new trade defence tool, dubbed a kill switch, that
00:17could cut off Chinese access to the EU market in the event of serious market disruption caused by its aggressive
00:23trade policies.
00:24If the EU side insists on adopting restrictive and discriminatory measures against China, China will have to take countermeasures to
00:32firmly safeguard its interests, said the Chinese diplomat.
00:37As the EU faces a record-high trade deficit with China of 1 billion euros a day, Brussels is seeking
00:43to protect its market from low-cost Chinese imports, which have surged by 25% over the past year according
00:50to Chinese customs.
00:51EU Trade Commissioner Maros Shevtsovic told MEPs that the tool should be presented by the end of the year and
00:58would allow the EU to react much faster.
01:00Presented as a country agnostic, the tool would nevertheless directly target Chinese interests, which rely heavily on the EU's 450
01:08million consumers to sell their excess of production.
01:11used by Ukraine
