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EU leaders agree to modernize their trade defense instruments

BRUSSELS (Reuters) - European Union leaders agreed on Friday to modernize their instruments to defend against unfair trade practices, the chairman of the meeting Donald Tusk said, noting there was a difference between being protectionism and protecting one's interests.

Tusk was speaking at a news conference with European Commission President Jean-Claude Juncker at the end of an EU summit. Juncker noted that the United States protected its steel sector much more than Europe, while China had a huge steel production over-capacity.

Juncker said he hoped a deal could be reached between the Commission and the parliament of the Belgian province of Wallonia in the next days on the terms of a Europe-Canada trade deal, so that the agreement could still be signed as planned next week.

(Reporting By Jan Strupczewski and Alastair Macdonald; Editing by Noah Barkin)

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