China Hints at Retaliation Against European Tariffs

The European Union slapped tariffs up to 37 percent on Chinese electric vehicles Friday.

Meanwhile, China dropped a hint about how it may retaliate against the new EU tariffs on its electric vehicles.

Carlos Cuerpo, Spain’s minister of the economy, trade and enterprise, says the European Union must stand its ground in negotiations with China.

In the meantime, Chinese EV brands are assembling a large number of their cars in Mexico to avoid high U.S. tariffs.