EU faces 300,000 factory job cuts as China ‘colonises’ supply chains, industry warns
Protest using 10 coffins to symbolise struggling manufacturing industry to take place in Brussels
TL;DR
- Eurometal predicts 300,000 EU manufacturing job losses by the end of 2026.
- The trade body warns of 'colonisation' of industry by Chinese component manufacturers.
- Concerns are being raised in Brussels with a protest planned using symbolic coffins.
- European manufacturers fear the EU Commission is not fully aware of the impact of Chinese components in supply chains.
- China's five-year plan aims to control finished product supply chains and the entire value chain.
- EU actions include tariffs on electric vehicles and steel, with ongoing talks to avert a trade war.
- Rising costs for European manufacturers, including tariffs and carbon taxes, disadvantage them against Chinese rivals.
- Loss of manufacturing means loss of production, investment, know-how, and economic resilience for Europe.