Bloomberg) -- China signaled it’s ready to unleash tariffs as high as 25% on imported cars with large engines, as trade tensions escalate with the US and European Union.
In addition to the jab at the car trade, China has recently hinted it could impose tit-for-tat levies on European wine and dairy products, and begun an investigation into European exports of brandy.
Chinese brands are already making sports cars and luxury cars with large engines.