Trade
China Risks Trade War on Two Fronts as Low-Tech Exports Soar, Too
- Industries like steel, animal feed add to huge trade surplus
- Cheap imports outside of green tech worry China’s EM partners
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China’s export boom goes far beyond the high-tech industries that are in Western crosshairs, leaving Beijing at risk of a backlash from countries that have so far preferred to sit on the trade-war sidelines.
The European Union is poised to slap tariffs on Chinese electric vehicles this week, the latest example of rising barriers to global trade. The US already made a similar move, and Canada may follow suit. Few other nations have raised that particular concern, since most don’t have their own EV industries to protect.