EU gauges interest in new trade weapon against China’s overcapacity

While the contours of the new instrument remain a closely guarded secret, it is expected to be presented to Commission President Ursula von der Leyen on May 29, at a rescheduled debate on China among all 27 commissioners of the bloc’s executive branch.

Now, sources within several business groups said they had been approached by Brussels to gauge whether they would welcome such a tool and what they believed it should look like.

While constituent member businesses are being polled on their views, the groups said the commission was giving little away on the detail of an instrument it wants to propose before its long August break.