German coalition agrees on 34-point economic package

Germany's ruling coalition approved a 34-point package on Thursday aimed at reviving the country's economy. The document calls for faster and sector-wide application of anti-dumping and anti-subsidy measures at the European level. It also states that any circumvention of those measures must be effectively prevented.

Trade protection measures While the document did not name any specific country, a government official said the coalition was adopting a tougher stance toward Beijing and would protect companies from unfair trade practices. The package states the government does not want trade imbalances of the current magnitude to arise or grow further.

Economic context The coalition's move comes as Chinese imports have surged.

An economist at the German Economic Institute described the shift in position as substantial and said he had not expected it to be so clear and public. The institute cited research from the Organisation for Economic Co-operation and Development showing that China subsidised its industries more heavily than other advanced economies.