European buyers are seeking to reduce their dependence on China, sourcing executives say, as Brussels increases scrutiny of goods from the world’s largest export economy.
Brussels has launched probes investigating Chinese government subsidies for manufacturing and the European Commission is expected to soon disclose any further tariffs on Chinese vehicle imports.
“The big trend right now is for companies to reduce their dependence on China,” said Richard Laub, chief executive of Belgium-based Dragon Sourcing, adding that while the US had taken the lead in decoupling European countries stepped up efforts to look for alternatives since the end of the pandemic. “What I’m seeing now is the EU catching up on that trend as well.”
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