PARIS, October 9. /TASS/. European companies are losing their market share because of the climatic agenda and introduced trade restrictions, Prime Minister of Hungary Viktor Orban said when speaking in the European Parliament.

"We are implementing the climatic policy without reforming the industrial policy. However, the EU does not deepen the work on restructuring chains of supplies, and European companies therefore lost significant shares in markets," Orban said. New trade restrictions "will lead to even greater losses," he noted. European companies also "spend two times less money for R&D than US companies in terms of the share in GDP," Orban said.

On October 4, the European Union increased duties on imports of Chinese electric cars, setting the maximal rate at 35%. China treated this decision as the act of protectionism and announced tit-for-tat measures for European products. The Chinese Ministry of Commerce said also on October 8 that it is implementing an antidumping and compensation probe in respect of agricultural products from the European Union and is considering an option of increasing import duties on EU cars with large engine capacity.