Executive Vice President of the European Commission for A Europe Fit for the Digital Age Margrethe Vestager talks to media in the Berlaymont, the EU Commission headquarter on May 23, 2024 in Brussels, Belgium.
The European Union may be no economic match for its U.S. and China trade partners, but it can seek to contend with them strategically, the bloc's competition chief said Tuesday.
Margrethe Vestager told CNBC that the EU had become "much better" at defending itself against unfair trade practices, and that it would continue to find novel ways of competing equitably with its economic partners.
"The point is to realise we can never outspend China or the U.S.," Vestager told Silvia Amaro in Brussels.
It follows similar measures by the U.S. last month, the latest phase in a growing trade tensions between the two economic powerhouses.
Persons:
Margrethe Vestager, Vestager, Silvia Amaro
Organizations:
European Commission, European, CNBC, EU, EV, U.S
Locations:
Brussels, Belgium, China