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What will be the outcome of China's retaliatory pork probe by end of 2024?
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Resolution / Starting Odds
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Story
China Targets European Pork in Retaliation to EU's 48% Tariffs on Chinese EVs
Jun 18, 2024, 04:09 PM
China has announced plans to impose tariffs on pork imports from Europe in response to the European Union's decision to levy additional tariffs of up to 48% on Chinese electric vehicles (EVs). The EU's move, aimed at protecting its auto industry, has been criticized by Chinese officials and industry leaders as protectionist and detrimental to global trade norms. In retaliation, China is targeting European agricultural products, which could escalate into a broader trade conflict. Meanwhile, Chinese automakers, who account for over 40% of German EV imports, are urging Beijing to adopt severe measures against the EU's tariffs. The situation highlights the growing tensions between China and the EU over trade policies and the potential impact on the global electric vehicle market. Additionally, China launched a retaliatory pork probe on June 17.
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