CHINA has declared economic war on Britain by slapping a hugely punitive tax on high grade steel produced in South Wales.
Beijing has imposed a killer 46% levy on the high tech metal amid accusations that its deliberate over-production of steel is strangling UK production.
Chinese ministers announced the huge tax will be imposed on British exports of sophisticated “grain oriented electrical steel” which is produced in South Wales. Continue reading
Following the European Commission decision to tax imports of Chinese solar panels, Beijing has decided to launch a probe on European wine imports. And if the 27 do not get the message, other retaliatory measures will follow, warns the Chinese official newspaper.
China’s decision to launch an anti-dumping and anti-subsidy probe into wine imports from the European Union signals the country will safeguard its major economic interests – and it has ample cards in hand to do so. Continue reading