EU could lose 300 000 jobs by year-end due to Chinese manufacturers

European industry could lose 300 000 jobs by the end of 2026 due to competition from Chinese manufacturers.

This was reported by the European industry organization Eurometal, The Guardian reports.

Eurometal warns that China is trying to take key positions in Europeʼs production chains — not only supplying raw materials, but also selling finished products. Imports of metals and chemicals, which are used in approximately 90% of production processes, pose a particular threat.

European producers also face higher costs due to steel import duties and carbon taxes. Chinese companies do not face such costs, Eurometal said, and the weaker yuan makes it even harder to compete.

The organization warns that the problem could lead not only to a reduction in production and jobs, but also to a loss of investment and technology. Because of this, Eurometal will hold a protest in Brussels near the headquarters of the European Commission.

• The EU has already imposed tariffs on Chinese electric cars and raised tariffs on foreign steel imports. Meanwhile, the EU and China are holding three months of talks, due to conclude in October, to avoid a trade war.

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