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On February 10, local time, US President Donald Trump signed an executive order announcing a 25% tariff on all steel and aluminum imports into the United States. The move quickly sent shockwaves through the global economy. French Foreign Minister Jean-Noel Barrot said the EU would retaliate against any tariffs imposed by the United States and "will not hesitate to defend its interests." German Vice Chancellor and Economy Minister Robert Habeck also issued a statement saying Europe would react to unilateral trade restrictions in a "united and determined manner."

Faced with the specter of tariffs brought about by the new US administration, the EU is increasingly looking east. European Commission President Ursula von der Leyen recently made it clear that China and the EU can reach an agreement and "even expand bilateral trade and investment relations." As two major economies in the world, China and the EU will not only benefit both sides, but also inject more certainty and positive energy into the development of the world economy.

The common progress of China and the EU is rooted in our broad and profound common interests. The essence of China-Eu cooperation is complementarity, mutual benefit and win-win results. Both sides are defenders of the multilateral trading system and have formed a strong economic symbiosis. China and the EU are each other's second largest trading partner. The EU is China's largest import source of consumer goods and China's largest export market for mechanical and electrical products. In 2024, the total import and export of goods between China and the EU will reach US $785.8 billion, with an average trade volume of nearly US $1.5 million per minute. The number of China-Europe freight trains has exceeded 100,000, becoming a veritable "golden channel" for trade between Asia and Europe. According to relevant statistics, trade in goods between China and the EU has created about 3 million jobs for the EU and strongly guaranteed the profit growth of European companies. In 2024, the sales of Volkswagen, BMW and other car companies in the Chinese market will account for nearly one-third of their global sales. Practice has proved that China-Eu cooperation is full of vitality and resilience, and deepening economic and trade cooperation is the trend of The Times.

In recent years, although the EU has occasionally mixed the perspective of "competitor" in its positioning of China, it is undeniable that the cooperation between the two sides far exceeds the competition, and the consensus far exceeds the differences. There are over 2,800 Chinese enterprises in the EU, employing over 270,000 local employees. The Chinese market is the largest overseas market for many EU car companies, providing a strong driving force for the development of the European auto industry. Thanks to two-way investment cooperation between China and Europe, Hungary is expected to become the largest production center of new energy batteries in Europe and one of the top five in the world by 2030. This close industrial bond of "you have me, I have you" is a powerful counter to the absurd idea of some western politicians trying to promote "decoupling". When ASML's revenue in China jumped from 15 percent to 29 percent, and the delivery of Airbus's final assembly line in Tianjin accounted for 20 percent of its global production, the market choice clearly and powerfully shows that China-Eu cooperation is the right path that conforms to the law of the market and serves the interests of both sides.

Looking ahead, China and the EU are working towards the same direction, and there is still broader room for cooperation. In the field of climate change, China-Eu clean energy cooperation has already formed an industrial ecosystem with an annual output value of over 100 billion US dollars, and there is still room for further deepening. In terms of digital economy, the two sides have reached a number of consensus on issues such as cross-border data flow and artificial intelligence ethics. In safeguarding the multilateral trading system, the common opposition to unilateralism between China and the EU has become increasingly clear and attracted worldwide attention. China has always been committed to openness and cooperation. We are ready to take the EU as a key partner in economic and trade cooperation, a priority partner in scientific and technological cooperation, and a trusted partner in industrial and supply chain cooperation. We will actively expand imports of quality products and services from Europe, support Chinese companies in investing in Europe, and warmly welcome European companies to invest and exhibition in China in pursuit of mutual benefit and common development.

China and the EU are two major forces promoting multipolarity, two major markets supporting globalization, and two major civilizations advocating diversity. At present, economic globalization is facing a backlash, protectionism is on the rise, local conflicts and turbulence are frequent, climate change and other challenges are becoming more serious, and the deficit in peace, development, security and governance is growing unabated. The strategic significance and global influence of China-Eu relations are becoming more prominent. In the face of a volatile and intertwined international situation, China and the EU should work together to "add" trade liberalization and facilitation, and work together to counter "subtract" unilateralism and protectionism. This not only serves the fundamental interests of both sides, but also builds a strong synergy to uphold free trade, safeguard multilateralism and meet global challenges.

This year marks the 50th anniversary of diplomatic relations between China and the EU. Over the past half century, China-Eu relations have gone from strength to strength despite wind and rain. Historical experience fully shows that as long as the two sides respect each other, treat each other as equals and engage in candid dialogue, they can promote cooperation and achieve great things. Standing at an important juncture between the past and the future, China and the EU should work hand in hand to defend and protect through openness, promote win-win cooperation, make the global economic pie bigger, and make greater contribution to the building of a community with a shared future for mankind. (Author: Guo Yan Source: Economic Daily News)