“It’s very natural that if we are embracing the key elements of free trade, we all have to play by the rules,” Joerg Kukies, Chancellor Olaf Scholz’s chief economic adviser, said Friday at an Atlantic Council forum in Berlin.
China reacted angrily to the European Commission’s announcement this month that it will investigate the subsidies, calling it “a naked act of protectionism” and stoking concerns about a potential tariff war. Europe “shouldn’t be too nervous” about the plan because governments have the “fiscal power and the fiscal willingness” to match its scope, he said, citing investment in decarbonization earmarked for next year by Scholz’s ruling coalition worth €112 billion .
Turning back to trade policy, Kukies said that Scholz is keen to finalize an agreement between the EU and the MERCOSUR bloc in South America by the end of the year.
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