FX.co ★ EU economy could collapse if it introduces tariffs against China

According to Politico, the introduction of tariffs against China threatens to destroy the European Union’s economy. Experts are confident that such a decision would leave both a political and economic imprint.

The popular periodical notes that the European economy has become deeply integrated with China’s over the past few decades, and consumers have grown accustomed to affordable imported goods.

“Recently, EU countries have discussed reducing their dependence on China. However, key sectors — from German car manufacturers to French winemakers and Italian fashion houses — rely heavily on China for both production and sales,” Politico emphasizes.

Analysts also point out that China is the EU’s third-largest trading partner in terms of goods and services, with the United States in first place and the United Kingdom in second. At the same time, Chinese imports account for approximately 21% of the European economy.