Some progress, although SOEs in addition to tech transfers still issues

Even though EUCCC President Mats Harborn acknowledged the U.S. had a point in seeking to alter the dynamics of its trading relationship with China, he emphasized which tariffs were not the solution.

“The most important thing can be we get away coming from using tariffs as a tool. which can be very dangerous for the earth economy, dangerous for our operations,” he told CNBC’s Eunice Yoon, adding which from the worst case scenario, the escalation in tensions could trigger the end of the business cycle.

“We don’t need to talk about taking sides. We just need to commit to economic globalization,” Harborn said.

The organization called for Beijing to adopt “deep in addition to far-reaching market reforms” going forward, pointing out the Trump administration’s more aggressive approach to China, in addition to the European Union’s attempt to get tough on unfair technology transfers as instances of the patience of stakeholders worn thin.

although ultimately, the European Chamber’s members “need China’s economy to be successful as much as China does,” the report said.

which comes as Chinese Premier Li Keqiang visits Bulgaria in addition to Germany ahead of a two-day Sino-European summit beginning on July 16. Reuters reported on Monday which Germany in addition to China had signed deals worth some 20 billion euros ($23.6 billion) during Li’s visit.

China in addition to the European Union have been taking steps to strengthen trade ties recently from the wake of the U.S. sharking up the earth trade order in addition to implementing duties on several of its key trading partners in addition to allies, including the EU.

— CNBC’s Silvia Amaro contributed to This specific report.

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