On December 8, 2021, the European Commission proposed a new tool to counter the use of economic coercion by third countries both towards individual member states and the European Union itself with the aim of obtaining certain political results.
Forms of economic coercion are considered to be the explicit use of trade defense instruments against the EU, the execution of selective controls at the borders or on the food safety of products from a specific EU country, the boycott of goods with a specific origin.
The instrument is based on dialogue and mediation with the third country, providing only as a last resort the adoption of economic countermeasures by the European Union such as the imposition of duties and the restriction of imports, services or investments. to limit access to the EU internal market. Individual decisions would be taken through Commission implementing acts.
The proposal will be examined by the European Parliament and the Council, which will have to discuss and approve it.