New EU Anti-Coercion Instrument to Take Effect This Fall, EU Says
The European Parliament and Council struck a "final" deal on the Anti-Coercion Instrument (see 2303280024), the European Commission announced this week, which will allow EU to impose countermeasures, including tariffs and other trade and investment restrictions, on third countries for economic coercion. The commission expects the instrument to take effect "in the autumn of this year."
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The deal includes a legal framework for the bloc to request that the country imposing the coercive measures "repair the injury caused by its economic coercion." It also covers "decision-making arrangements," including the council's "role in determining whether the EU or a Member State is the target of economic coercion" and "timeframes for EU action under the instrument."