Economics
EU Challenges China’s Trade Expansion With Landmark Tariff
- EU duty targets Chinese subsidies to Egypt-based exporters
- Levy on glass fiber fabrics takes aim at ‘Belt and Road’ plan
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The European Union fired a warning shot at China over its global trade ambitions with an unprecedented tariff decision to counter Chinese subsidies to exporters.
For the first time, the EU on Monday took aim at alleged market-distorting aid granted by a country to exporters located in another state. To date, such European duties have focused only on subsidies provided by the country where the exporters are based.