-- Phasing out Chinese telecom and energy equipment could cost the European Union 367.8 billion euros from 2026 to 2030, Reuters reported Wednesday, citing the China Chamber of Commerce.
The EU plans to remove "high-risk" suppliers under new cybersecurity rules, according to the report.
Germany would bear the heaviest burden at 170.8 billion euros, followed by France, Italy, Spain, Poland and the Netherlands. Energy and telecom sectors would be hit the hardest, Reuters wrote.
Beijing has demanded the removal of related clauses and threatened countermeasures unless substantial changes are made, according to the report.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)