On Friday, the European Commission declared current trade ties with China "unsustainable" and moved to deploy aggressive new tariffs and import quotas.
EU leaders are sounding the alarm over a massive surge of state-subsidized Chinese goods, particularly electric vehicles and steel, that they say threatens to bankrupt European manufacturers. While hardliners like France and the Netherlands are pushing for a total trade crackdown, countries like Spain have wavered, fearing the fallout of a full-scale economic conflict. Beijing has already vowed to retaliate immediately by launching investigations into European exports like French cosmetics, pork, and luxury alcohol.
All eyes are now on the July 1st deadline when the first round of expanded steel import restrictions is set to take effect.
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