Press release - MEPs adopt new trade tool to defend EU from economic blackmail

The Anti-Coercion Instrument (ACI) seeks to protect EU and member state sovereignty in a geopolitical context where trade and investment are increasingly weaponised by foreign powers.

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Provider: 
European ParliamentEuropean Parliament
URL: 
https://www.europarl.europa.eu/news/en/press-room/20230929IPR06122/https://www.europarl.europa.eu/news/en/press-room/20230929IPR06122/
Retrieved on: 
Wednesday, October 4, 2023
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Tags: 
Pressure, Coercion, World Trade Organization, Background, European Parliament, S&D, European, Commission, Policy, Trump, Member of the European Parliament, Parliament, DE, Committee, Outline, Council, World, Official Journal, International law, ACI, Official Journal of the European Union, International trade, Creative industries, Nursing, EU, G7
Geotags: 
CHINA, US
Summary
Key Points: 
  • The Anti-Coercion Instrument (ACI) seeks to protect EU and member state sovereignty in a geopolitical context where trade and investment are increasingly weaponised by foreign powers.
  • Although this kind of coercion undermines the EU's strategic autonomy, it is not covered by the World Trade Organisation (WTO) agreement.
  • The WTO dispute settlement mechanism is unavailable for cases of economic coercion specifically, unless they also involve aspects that violate WTO rules.
  • In May, G7 leaders announced the launch of a coordination platform against economic coercion, echoing the EU’s initiative.
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