Sweden questions plan for Europe’s new trade weapon

The EU has yet to unveil its new proposal for an anti-coercion trade tool to safeguard the bloc’s geopolitical interests, but it is already facing scepticism.

The EU is seeking for the first time to create a single legal instrument with which “to deter and counteract coercive practices” by countries outside the bloc. The commission has said it is necessary to strengthen the EU’s strategic autonomy and to protect member states’ interests. “Efforts to respond to economic coercion must be within WTO rules and public international law,” the Swedish document said. “EU policy to defend the international order has served our companies well and we should not risk undermining the rules-based trading system with the WTO at its core.

Sweden said in its paper that work still needs to be done “to specify which threats are of the first order and justify developing instruments and response options at EU level”. An immediate response without sufficient evidence could harm the credibility of EU policy both outside and within the bloc “should it be perceived as unfair or unproportional”, the paper said.

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