The new trade instrument is primarily meant as a deterrent, but it will allow the EU to fight economic coercion and respond with its own countermeasures.

With 578 votes to 24 and 19 abstentions. Parliament approved on Tuesday a new trade instrument to enable the EU to respond, in line with international law and as a last resort, should the EU or member states face economic blackmail from a foreign country seeking to influence a specific policy or stance.

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