The European steel association, Eurometal, has warned of the risk of losing 300,000 jobs in the EU's manufacturing sector by the end of 2026 due to dependence on Chinese components, according to The Guardian. European companies are forced to purchase parts from #China because of their low cost, driven by an undervalued yuan and the absence of carbon #tariffs. According to the association's estimates, China's trade surplus with the European bloc has reached €1 billion per day.