European companies step up efforts to decouple from China

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Move comes as Brussels increases scrutiny of goods from world’s largest export economy

European buyers are seeking to reduce their dependence on China, sourcing executives say, as Brussels increases scrutiny of goods from the world’s largest export economy. Brussels has launched probes investigating Chinese government subsidies for manufacturing and the European Commission is expected to soon disclose any further tariffs on Chinese electric vehicle imports.

“As a result, there will be more diversification away from China, even though China may be the most optimal place, you know, you can’t afford to be optimal and wrong,” he added. He added that it was part of a global push. “Customers are saying that, I don’t care what you do William, just get me to 30 per cent outside of China, and sometimes even more. Some have even said that I want to be completely out of China,” he told reporters last month.

 

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