COVID-19
On March 15, the EU imposed emergency export curbs on $12.1 billion of hospital supplies destined for outside the bloc.
New channels of suffering: retaliatory export restrictions, supply chains, and indifference to poor countries.
My latest 1/
piie.com/blogs/trade-an…
On March 15, the EU imposed emergency export curbs on $12.1 billion of hospital supplies destined for outside the bloc.
New channels of suffering: retaliatory export restrictions, supply chains, and indifference to poor countries.
My latest 1/
piie.com/blogs/trade-an…
On March 15, the European Commission implemented an Act restricting exports to countries outside the bloc of
• Face shields: $7.4 billion
• Protective garments: $3.1 b
• Mouth-nose-protective equipment: $900 million
• Hospital gloves: $400 m
• Goggles: $200 m 2/
• Face shields: $7.4 billion
• Protective garments: $3.1 b
• Mouth-nose-protective equipment: $900 million
• Hospital gloves: $400 m
• Goggles: $200 m 2/
When measured by total sales affected, the biggest disruptions could include EU exports to the United States, Switzerland, Norway, China, and Russia… 3/
Yet, many POOR countries rely on medical supplies from the EU. They are vulnerable to EU export restrictions.
New limits could devastate Eastern Europe, northern Africa, as well as sub-Saharan Africa.
Medical care is compromised if it curtails access to even ONE product… 4/
New limits could devastate Eastern Europe, northern Africa, as well as sub-Saharan Africa.
Medical care is compromised if it curtails access to even ONE product… 4/
The EU has long pushed poor countries to open their markets to imports. Many have come to rely on EU suppliers for imports of their essential hospital equipment.
The new EU policy threatens to eliminate their access to medical imports just when they need it the most... 5/
The new EU policy threatens to eliminate their access to medical imports just when they need it the most... 5/
NEXT worry: Are OTHER medical products at risk of similar EU export restrictions?
The EU is a major exporter of an additional $14.4 billion of other hospital equipment identified as critical to the global fight against COVID-19…
Has the EU opened a Pandora’s box? 6/
The EU is a major exporter of an additional $14.4 billion of other hospital equipment identified as critical to the global fight against COVID-19…
Has the EU opened a Pandora’s box? 6/
The EU export restrictions are particularly short-sighted given how reliant it is on IMPORTS of medical supplies.
Did you know?
In 2019, the EU imported $17.6 bn of THE SAME hospital products on which it has imposed export controls…
What if others restrict exports too? 7/
Did you know?
In 2019, the EU imported $17.6 bn of THE SAME hospital products on which it has imposed export controls…
What if others restrict exports too? 7/
This unilateral EU policy could spiral, fueling protectionism, and worsening the medical supply shortage everywhere.
The sooner the EU reverses the emergency export restrictions, the better.
For medical supplies, the right trade policy is known.
ENDS /
piie.com/blogs/trade-an…
The sooner the EU reverses the emergency export restrictions, the better.
For medical supplies, the right trade policy is known.
ENDS /
piie.com/blogs/trade-an…
