US Secretary of State Mike Pompeo criticized an EU investment deal with China as "weak" in an interview released Tuesday, warning that it does not protect against risks from Beijing.

"As we stared at it, it was a weak agreement. It didn't protect the European workers from the predation of the Chinese Communist Party," Pompeo told the Bloomberg television show of investor David Rubenstein.

Pompeo's criticism is the first in public from President Donald Trump's outgoing administration, although President-elect Joe Biden's national security advisor, Jake Sullivan, last month appealed for "early consultations" with European allies on "our common concerns about China's economic practices."

Pompeo, a staunch critic of China, stopped short of urging the EU to dump the agreement but made clear the United States had no interest in anything similar.

"We care too much about our workers, about our people, about our manufacturing, about our intellectual property to sign a weak deal that would continue to allow China to engage in activities that weren't fair and even, balanced and reciprocal," Pompeo said.

The European Union and China on December 30 approved the deal in principle after seven years of negotiations.

The Europeans hope that the investment pact will pry open the lucrative billion-plus Chinese market for their businesses, offering a needed boost after the Covid slump.

The EU moved ahead despite voicing concern about China's human rights record, including its mass incarceration of at least one million Uighurs and other Turkic-speaking Muslims.

The pact marked a major win for China after a concerted push by the Trump administration to isolate it, including by encouraging all nations to drop fifth-generation internet from telecom giant Huawei, saying it poses security risks.

Related Links
Global Trade News

Tweet

Thanks for being here; We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor $5 Billed Once credit card or paypal		SpaceMediaNetwork Monthly Supporter $5 Billed Monthly paypal only

Europe and China end pandemic-hit year with investment deal
Beijing (AFP) Dec 30, 2020
The European Union and China on Wednesday approved "in principle" a major investment deal after seven years of painstaking negotiations. The pact is seen as a boost for investment flows for both sides in a pandemic-hit global economy and a key political win for China ahead of US president-elect Joe Biden's arrival in the White House. - What is it? - The agreement aims to open China's market and eliminate discriminatory laws and practices preventing European companies from competing on an equ ... read more