European firms need to abandon overreliance on China and US, chamber report warns

A new report recommends European companies avoid an overreliance on China or the US in their supply chains, as companies find themselves squeezed between Beijing’s preferential policies for local companies and Washington’s trade volatility.
The European Union Chamber of Commerce in China advised companies to “eliminate single-source dependencies on both China and the United States where possible” in its “Dealing with Supply Chain Dependencies” report released on Wednesday.
“We are probably only…