🇪🇺🇨🇳 The EU has told China to voluntarily CAP its hybrid-car sales at around 15% of the European market, or Brussels says it will step in and do it for them.
A senior EU offical: “If they will not limit their exports to our market then we will,” describing the proposal as “managed trade” designed to stop deindustrialisation.
The move is part of a goods trade deficit with China that reached €360.6 BILLION last year, with EU Commission President von der Leyen warning the continent is already experiencing a second “China shock.”
Even Europe is waking up to the fact that there needs to be a limit on "Made in China."
Source: Reuters, Financial Times / Writer: Mhedi
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