Trade
Week That Started With WTO Warning Ended With Trade Battle
- EU anti-subsidy inquiry could result in tariffs on Chinese EVs
- Chinese retaliation could target EU cars, airplanes, make-up
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The warning from the World Trade Organization in Geneva early this week was unambiguous: A global economy split into rival trading factions would reduce real incomes 5% — maybe double that amount in poor countries.
The next day, the European Union launched what some of the 27-nation bloc’s most well-known industries — ranging from Airbus SE to cosmetic producers and wine makers — worry could land them on the punishing end of a trade war with China.