Renew Europe leads the strengthening of EU trade policy with the establishment of a strong anti-coercion instrument
Asserting the trade power of the EU has always been a priority for Renew Europe. The adoption, in the committee on International trade, of the European Parliament’s position for the negotiations with the Council on the anti-coercion instrument (ACI), is a success for Renew Europe as well as recognition of our work to complete the EU trade toolbox. Indeed, the creation of the anti-coercion instrument was initiated by Marie-Pierre Vedrenne, Renew Europe’s rapporteur on the EU Trade Enforcement Regulation.
Our group is therefore delighted to witness the progress on this important file. Thanks to the anti-coercion instrument, the EU will have all the tools in hand to respond and counteract economic coercion measures from third countries seeking to interfere with the EU and Member States’ interests. If all attempts at dialogue with a third country applying coercive measures are unsuccessful, the EU will be able to counteract them.
The interinstutional negotiations must start as soon as possible. We are counting on the Council to live up the challenges and avoid any blockage and slowing down of the negotiations. The EU and its businesses need this instrument. Let's continue to strengthen our trade power.
Marie-Pierre Vedrenne (L’Europe Ensemble, France), vice-chair of the committee on International trade and shadow rapporteur on that file, on the behalf of Renew Europe, declared: "This vote is a great victory for the Parliament and the Renew Europe Group, and an important step for the future of EU’s trade policies. We are in need of such an instrument to have a strong toolbox, and convincing means to deter economic threats. We do not want a trade war. It will always be dialogue and negotiations first. But if it fails, we will be able to react and defend our interests with effective countermeasures."
Samira Rafaela (D66, Netherlands), Renew Europe coordinator in the committee on International trade, added: "Renew again is at the forefront of strengthening the EU's trade toolbox. The adoption of Parliaments position on the anti-coercion instruments is an important next step for the EU's ability to react to unjustified coercion of third countries. It is now time to enter into trilogue and work with the Council towards an effective instrument."