Ex-WTO director: EU should prepare for US-China trade war
The former World Trade Organization (WTO) director, Pascal Lamy, indicated during an international investment conference in Paris regarding that European Enterprises should prepare for its companies to be a target by the United States' sanctions in a view of deteriorating trade dispute between the United States and China nowadays.
The United States had resumed sanctions against Iran, leading in European companies to be forced to withdraw their facilities from Iran. Therefore, European government was now proceeding with evaluating how to react effectively and shall pay much more attention on facing the little exact extraterritorial measures by the United States.
According to the report that was co-authored by Lamy and totally 5 parties including Louis Schweitzer, honorary chairman of carmaker Renault. Europe for sure might create its own extraterritorial mechanisms to sanction breaches of environmental, data protection, tax and anti-corruption laws and so on.
