EU Proposes New Trade Tool Targeting Chinese Overcapacity; China Vows Retaliation for Discriminatory Measures

GateNews
According to Commerce Ministry spokesperson He Yadong, the European Commission recently moved to develop a new trade instrument to address what it describes as Chinese overcapacity. China's government rejected the characterization, countering that if trade surplus alone constitutes overcapacity, then EU exports of automobiles, pharmaceuticals, wine, and cosmetics equally qualify. Officials warned that any discriminatory restrictions on Chinese enterprises or products will trigger countermeasures.
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