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Excerpt from fortune.com
Beijing hinted it could retaliate against the European Union in a trade dispute that shows signs of escalating the same way as China’s contest with the US.
If the EU keeps pursuing investigations into Chinese firms then China will “very likely have to take a series of measures to hit back,” said a post on Yuyuan Tantian, a social media account linked to China’s state media. Beijing has regularly used such channels as a way of signaling its thinking about trade.
The EU is investigating Chinese subsidies across a range of industries, threatening tariffs for electric carmakers and keeping firms out of rail and energy tenders. President Xi Jinping visited Europe last month seeking to dissuade the bloc from going down the same path as the US, which last week announced new charges on some imports from China — raising concerns in Beijing that American allies may follow suit.
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