EU unveils trade sanction plan to counter foreign coercion

By LORNE COOK
Associated Press

BRUSSELS (AP) — The European Union wants to set up a system of trade sanctions that it could impose on any foreign power it accuses of trying to coerce the 27-country bloc for economic or political gain. The EU’s executive branch, the European Commission, wants to be able to react without needing the endorsement of all member nations when a person, company or country tries to strong-arm the bloc. It says such a plan could be used in situations like China’s diplomatic and trade spat with Lithuania over Taiwan. The plan was unveiled Wednesday and would give Brussels the power to impose punitive tariffs, quotas or even limit access to EU markets.