Promoting EU values through trade
One of the most important aspect of EU's trade policy is that - alongside protecting European businesses and consumers - it is promoting the EU's principles and values.
Trade agreements
Ongoing trade negotiations - such as the ones with Mercosur, Mexico and Chile - are therefore also used as a vehicle for the protection of core values, from human rights to the environment.
Conflict minerals
Another example for this approach is the EU regulation on conflict minerals.
In politically unstable areas, armed groups often use forced labour to mine minerals. They then sell those minerals to fund their activities, for example to buy weapons. Hence the name "conflict minerals". These are tin, tantalum, tungsten and gold - used for the production of widely spread items such as mobile phones, cars and jewellery.
In May 2017, the EU passed a regulation that ensures EU companies only import these minerals from safe and responsible sources. This piece of legislation specifically bans:
- conflict minerals and metals from being exported to the EU
- global and EU smelters and refiners from using conflict minerals
- mine workers from being abused
The regulation will start to apply on 1 January 2021 in order to give companies time to adapt to it. It is strengthened by a joint political understanding between the Council, the European Parliament and the European Commission.