China and EU trade war a risk for UK growth

China this week responded to EU anti-dumping tariffs on solar panels with a levy on European wine, and warned it has “plenty of cards” still to play. By attacking wine producers, though, Beijing has potentially turned a straightforward tit-for-tat dispute over state subsidies between Germany and China into a full-blown European trade war.

France has effectively been targeted in retaliation for a levy designed to protect German manufacturers in what appears to be a deliberate attempt to inflame tensions within the EU.

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