Banca March: The Asian country has opted to retaliate after EU member states voted on Friday to impose levies of up to 45% on electric vehicles of Chinese origin. China’s measures on spirits amount to 39%, taking effect on Friday 11 October. The main country affected will be France, where China accounted for 99% of exports of the drink. The EU has already announced that it will take the disagreement to the World Trade Organisation. Spain has more to lose if the tariffs are extended to the pork industry (€1,223 million in exports to the country). Continuing with the Asian giant, it has been announced that the Finance Ministry will meet on Saturday to introduce expansionary fiscal policies to boost the economy.
China to impose tariffs on European brandy, possibly on cars, pork and dairy products
