søndag 14. juli 2024

China examining if EU is putting up ‘trade barriers’ as tensions intensify

The Chinese government said Wednesday that it would investigate whether the European Union’s probes into Chinese companies constitute “trade barriers.” Concerns are rising in the West that jobs and strategically important industries could be wiped out by cheap Chinese imports propped up by government subsidies. Earlier this year, the EU launched investigations into China’s state support for its wind turbine and solar panel suppliers. It has also recently completed an eight-month-long probe into Beijing’s support for makers of electric vehicles, resulting in additional tariffs on EVs imported from China.

Now, China will investigate if the bloc’s probes violate the two sides’ economic treaty and if they have hurt the country’s trade with the 27 EU member states.

The investigation by China’s Ministry of Commerce (MOFCOM) will span a number of sectors, including rail, photovoltaics, wind power, and security inspection equipment, according to a statement posted on its website.