Employers urge new trade bloc with US against China

Photo: Depositphotos.com
Photo: Depositphotos.com

Dutch employers organisations are urging the government to lobby hard to form a new trade bloc with the US to create a counterbalance against China, the Financieele Dagblad said on Thursday.

Such a move would give the World Trade Organisation more teeth, VNO-NCW and MKB-Nederland wrote in a ‘position paper‘ they have sent to parliament.

‘’We should examine our interests and use them to make a new approach,’ said VNO-NCW chairman Hans De Boer. ‘We must join the race to the top instead of being on the defensive all the time.’

De Boer argued for a new initiative, a ‘smart deal’ with the US instead of a trade war. He said parliament should work towards a new trade bloc.

The US is the Netherlands’ largest trading partner outside the EU, accounting for annual bilateral trade of €50bn, of which €20bn is Dutch exports to the US. Dutch direct investment in the US totalled €170bn at end-2017, while the US had €118bn directly invested in the Netherlands.

De Boer said a trade bloc with the US would enable its members to determine the international standards of trade, sustainability and security. It could, he said, also reciprocate against China.

Thank you for donating to DutchNews.nl.

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation