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China on Monday threatened to impose tariffs on pork imports from Europe, in what appeared to be retaliation for the European Union’s decision last week to impose preliminary tariffs on electric cars imported from China.
With billions of dollars in trade between China and the European Union at stake, Germany’s second-highest cabinet official called on Saturday for the two sides to engage in talks to try to resolve an escalating dispute over tariffs.
Images of the burned vehicle flew through the Chinese internet: An Aito M7 Plus electric sport utility vehicle, operated by an advanced assisted driving system, had crashed on a highway in Shanxi Provinceon April 26.
The world’s largest experiment in driverless cars is underway on the busy streets of Wuhan, a city in central China with 11 million people, 4.5 million cars, eight-lane expressways and towering bridges over the muddy waters of the Yangtze River.
China’s exports rose in May at the quickest pace in more than a year, the government said on Friday, as a flood of appliances, cars and electronics poured out of factories and the prospect of a global backlash grew.
Responding to China’s surging exports and extensive investments in new factories, the International Monetary Fund made sizable increases on Wednesday in how much it believes China’s economy will grow this year and next.
For decades, China has moved methodically to dominate ever more industries, from toys and clothing in the 1980s to semiconductors and renewable energy today. China now produces a third of the world’s manufactured goods — more than the United States, Germany, Japan, South Korea and Britain combined. Its trade surplus in these goods is equal to a tenth of the entire Chinese economy.
China is taking the rare step of sharply increasing fares for riders on four major bullet train lines, in its broadest move to address rising costs and heavy debts since construction of the system began nearly two decades ago.