Europe is “sleepwalking” into a multi-billion pound trade war with China on the back of a groundswell of protectionism among Continental industries struggling to compete with low-price imports, British companies are warning.
In a week’s time, a committee of technocrats holds a private meeting in Brussels to recommend whether the European Union pull up the drawbridge to low-cost imported Chinese shoes. If it does, it could open the door to a flood of similar complaints by European manufacturers of everything from plastic bags and sports trainers through to tungsten filaments and recordable CDs.
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